2D graphics from 20 years ago are fine in my book. I could still play classics like Contra and Punch Out!!! today without thinking twice about the graphics. Sure the graphics don't compare to today's, but they dont feel like they were trying too hard to be impressive in. I dont think people bought games back then because of the top notch production value in the graphics... or maybe they did.
When it comes to portable graphics, there's no way I could play a Gameboy today. 20 years is a long time for something to evolve. Especially when that something has dominated the market the whole time. Think about what the iPod's going to be like in 11 years? It's already converted itself into a phone... Nintendo better watch out.