I don’t think big companies know how to make a good FPS campaign anymore, let alone hone in on classic deathmatch multiplayer. The last FPS I bought was Half-Life: Alyx four years ago, and the first one to come along and interest me since then was Phantom Fury, but I’m letting that one iron out bugs for a few weeks before I pick it up. Even former TimeSplitters devs, given the opportunity to make a new TimeSplitters, made another Fortnite instead. Likely this new Perfect Dark was built to turn it into a live service that keeps players playing it forever rather than just making a fun deathmatch to play with your friends a handful of times, which would be missing the point. And all this is to say nothing about how those devs must be feeling when even a great game that sells well won’t save you from Microsoft laying you off.
I would not agree with that, no. First because I’d say mechanics are almost always the most important part anyway, and also because I’ve probably come across more stories that have held my interest in recent years than I did 25 years ago. Stories were pretty basic back then, more often than not. In fact, these days, I’ve been carried through mediocre gameplay by well-told stories more than a few times, and I don’t think that ever happened 25 years ago.