If you count the 8 bit era from the release of the Famicom in 1983 and the end of the 16 bit era at the release of the PlayStation in 1995, that’s 12 years. The first deliberately retro style game I can remember playing was Mega man 9, released in 2008, and games made in the style of the 2D classics of yore are still being pumped out today, 17 years later.
And because someone is going to mention it, yes I know there were other consoles and computers before the NES/Famicom. The first console my family owned was an Atari 2600, wood grain and all, but there are far fewer modern games reminiscent of that style.
This, but also pixel art is an art form in its own right. It started with technical limitations, but exploring the limits of those limitations has created something uniquely and independently appealing for its own sake. Good pixel art just looks better than a lot of 3d stuff. And these days you can chose whether or not to stick to all the original limitations or not, giving more creative freedom and flexibility.