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.