Games improve - what hasn't improved in a material way is the writing.

Some of this has gone backwards. To me, gaming is a story-telling medium, and the best stories are those that I've read again and again, like a good book. I'd say the most recent game that falls into the 'classic' bucket is BioShock: Infinite.

Having said that, there's been a few recent masterpieces, like Uncharted 4 which had it all - story, pacing, gameplay.

Then there's other titles that just have the gameplay nailed, and fall slightly flat in other areas, like Cities: Skylines, Fire Emblem: Three Houses, XCOM2, to name a few.

I like story the most, but solid gameplay is also important. A balance of the two is the dream.

A game also needs to have that page turning mechanic that so many books have "just one more chapter".

TLDR: Story, Story, Story.