Quoted from Betelgeuse:Not at all. The new games are just new. Sure, not all B/W games are created equal, but if I was playing AFM for the first time, it would be at least as engaging as any new release. Looking at AFM next to TWD, you can't even tell there are 20 years between the two. Go in the other direction and you are comparing EMs to AFM. The code and, in some cases, the lighting are a step up on most newer games, but its not nearly a night and day difference.
My brother played AFM for the first time at Expo 2015. He came over to me afterwards and he said, "that's a fun game!" No matter how old certain games are they will still be fun.
I hear all the time that B/W code is complete and that's true for the most part but there are still a few games that feel incomplete or have bugs. Junkyard always felt incomplete to me and games like Whodunnit and BSD have bugs in the code.