Good video and I agree on the point that one of the things that made games special during that period was the differences in hardware across the competing consoles that enabled developers to come up with creative solutions when developing ports as well as have unique games that took advantage of unique hardware on each system.
One of the exciting things about the golden age of the gaming industry (4-7th generation), is the fact that these companies would attempt to use some bespoke hardware to drive innovation based on what their vision of what gaming would be. Whether it be the SNES PPU chips that allowed for Mode7 graphics, or the PS2 emotion engine that allowed for the amazing water and rain effects in Metal Gear Solid 2 or the realistic fog effects in Silent Hill 2. The bespoke hadrware is what made consoles unique from their PC cousins in a way that kept them visually distinct, and as such, gave games on their platforms more of an identity.
I think the hard pill to swallow today is that modern console are essentially subsidized computers that are configured to mainly play games (and a few other multimedia functions). Thats not meant to put down console owners. They are sold to individuals who do not want to deal with the complexities of maintaining a personal computer for gaming and do not desire the additional functions that a personal computer can offer. That is part of the appeal in owning consoles today. But that wasn't the selling point consoles were going for in the past. During the 90s-2000's, the angle was to push the gaming industry forward with unique hardware to drive software sales by utilizing said hardware.
To play devils advocate, the fact that modern consoles now share the same standard components for games allows for more games to be available across all platforms without creating a burden on developers. Making games more accessible is a good thing. This also keeps costs down, which is one reason why games have mostly remained under $100. People have forgotten or my not realize that there were Super Nintendo games in the US selling for over $60. Both Killer Instinct and Chrono Trigger were released in the US for $80. And Star Fox released for $70. This is between 1993 and 1995, so adjusting for inflation and you have Chrono Trigger and Killer Instinct selling for $150!