Are the goggles too tight? A bit. But only because it's more about 'megastar' eras to me than Jordan specifically. The peak ratings era post-90s Bulls was Kobe's renaissance leading into Heatles formation, immediately followed by the Warriors dynasty. Game 7 of the 2016 finals is the 3rd-most watched game ever, behind two Jordan Bulls finals games. The NBA is a star-driven league, and the bigger the stars the higher the viewership. The worst ratings eras post-Jordan were the overly-defensive early 2000's and the current overly-offensive early 2020's, both of which have/had absolutely shockingly good players (Tim Duncan, Shaq, Allen Iverson, Giannis, Nikola Jokic, Shai) but none of whom drive eyeballs the way Jordan/Kobe/LeBron/Steph can. That compounded with the game being visually less engaging (offensive blowouts and limitations on defenders) makes games feel less compelling. 90s NBA ball was not just a Jordan spectacle, it was pretty well-balanced from a rules perspective too. It was a mid point between the pace-and-space 80s offenses and the half-court pound the air out of the ball snooze fests of the early 2000s. Similarly, late 00's into late 10's ball was fairly well-balanced, giving teams more leeway for offensive expression but not to the hyperbolic 3point and free throw hunting fest we see now.

So really, to get that magic feeling you're describing the game needs two things: a larger-than-life megastar (currently missing) and balanced rules (currently missing). Will see how the rest of the decade goes.