I think there's quality to stuff that stays around. NES-style pixelated retro art is popular and Atari isn't for a reason. Can't just be nostalgia because we'd see Atari graphics more prominently in successful indie games. NES graphics have been popular for over a decade now, and I don't think it's going away.
Sometimes old styles of things are better, more visually interesting. I don't think that's the case with NES graphics, it's just another accepted style, but old anime has an appeal that can't be matched in a lot of people's opinions. Akira is going to be more fun to look at than almost any digital stuff, it's impressive in the same way it is when you look at old sculptures and paintings kinda.
There's often a lot of nostalgia behind these things though. Most people aren't going to like the VGA graphics/colors computers churned out unless they grew up with them, to me purple/blue/white is almost as bad to look at as Virtual Boy but others love them. That might be the case for the 5th generation of consoles, I see a lot of people crap on them but I like the style quite a bit, almost certainly because of nostalgia (even though a few do legitimately look great at least sometimes, like Chrono Cross's backgrounds).
I guess what I'm saying is there's a mix of objective quality and nostalgia in these cases and it's hard to tell where that line is.