This fellow seems to think so, and I agree. It's not just that the modern setting is getting extremely tired, it was just never very interesting to begin with.
World War II actually happened. It's edifying to play games set in that era, it's feeding my curiosity about the world.
What do I get from Modern Warfare and Ghosts? Explosions and batshit situations. And dogs and fish. None of these is interesting to me (although 4 was pretty damn slick), and I loathe that millions of braindead explosion junkies now dictate the course of a once-beloved historical series.
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Call of Duty 2 is, to this day, one of my all time favorite video games. It had everything you could ask for. It chose great people to follow for the stories, there were varied segments, fantastic level design, great voicing, and the best CoD multiplayer to date.