Websites in 1990s and 2000s did not have UX flows that we have nowadays. Yes, most of it is extremely bloated. But some of the flows we have right now, would just not be possible with the 2000s components. There are also billions of more people browsing the web nowadays as well.
I'd say it's in between, the early web was funny but wild (popups or whatever the guy decided to do with dhtml) but there was an era of stable light ux, maybe just before the web 2, where you had a bit of ajax but simple webpages and near no bloat.
