When they speak of "old" games, I do not think they are thinking of Mario or Tetris, which are a decade newer and orders of magnitude better than some "classic" games.
Restricting to arcade games is probably justified. I'd say we are in the golden age of video games right now---at least in terms of popularity. And you can still get remakes of all the good old games, or even play the originals.
Well, there was a first golden age, which was followed by nintendo and the street fighter era, and so on. That's fine you want to make up new Golden Ages -- more good attention to video games the better -- but be sure people aren't thinking of the earlymid 80s when you use the term for other purposes.