I don't believe the old web was filled with people pining about how the current web is awful and them participating in recreating the web they inhabit is better. People on the old web just posted things, because before that there was no non-old web to compare to. But that in itself is what makes the old web so appealing to people wanting it to return. Back then there was no other web necessary to escape from.

So when people construct versions of the old web today, they make a conscious decision to do something most people would not, and by doing so it sometimes comes off as indicating what they think of the other design decisions they chose not to make. It's not a bad thing, but it's not quite the same as it was anymore. That is why some of the spark is gone, in my eyes. It's kind of like counterculture being mistaken as the opposite of culture.

It is even more pronounced when people talk about "the old web" on old web websites all day.