You can't continue to have the same game continue to come out over and over... You need to improve and progress. No one wants to see or play the same thing over and over, especially now. I had a Atari. So you can keep the name dropping out of the debate.
No one said anything about not having a grind. It's the 'take 3 years to get the item' approach that will not work in modern day gaming. Not many people have the attention span to continue playing the same game for that long. They need to be rewarded quicker than the days of old. I'm very grateful for the progression. Hell, I love new game+ games. Why? Because they add to the original play through. Something like Ratchet & Clank is a perfect example of a game with an amazing 2nd play through on new game+.
Revising history and learning/progressing from the past are 2 different things. What worked back then might not work today. New generations want new stuff.
It isn't a modern concept at all. Gauntlet was a D&D style game. You crawled dungeons, fought bosses, leveled your character, and improved them with new equipment found during the run. It was released in 1985. You couldn't even save your progress in the "ye olden times" of gaming. How could you possibly grind for years when you didn't even have a save point?!?
For that matter, the term "grinding" wasn't even a common term in the gaming lexicon until MMORPGs became popular in the late 90s to early 2000s. Plenty of games had some mechanics that you could call grinding sprinkled in here and there, but it wasn't a part of the core gameplay loop until games like EverQuest and Diablo came onto the scene.
This entire argument would be like a bunch of kids walking around in JNCOs or bell bottoms and calling them modern fashion trends.
Instant gratification and quick progression have literally always been a part of the equation. There's absolutely nothing modern about it. The most popular games have always been the ones that were the most accessible to casual players because they have a bigger audience. It's that simple.