4th gen systems overall have better looking 2D games than 5th gen systems.
The giant floating skulls on SOTN don't look as good as pic related.
Of course there's arcade ports like Vampire Savior on Saturn that look phenomenal, though.
Also, Wonder Project J2 on N64 have really charming 2D graphics too, but overall, 2D on 5th gen systems always have this sort of "flat polygons with texture" feel, you can notice it heavily in games like, for example, Strider 2, or Psychic Killer Taromaru. It doesn't look organic as they do in 4th gen systems.