The problem is not orchestral music vs 8 bit, it's the industry being driven only by money and profits. This guy is an insider they should know better.
Right now profits seem to be the only goal, back then they probably aimed at releasing quality products that would sell well in the market. You won't find the peak of music in videogames anyway
Lets get one thing straight: it was always about profit. The only thing that changed is that they figured out that they dont need to put in as much effort to get the same financial result. They are the corporate equivalent of someone realizing they get paid the same wage whether they just barely meet expectations or spend 60 hours a week working their ass off. If gamers want them to put in the work, they have to give them a reason to and right now they're not.