Tbh older games are just better at being scary both because of their limitations and because you could get away with more back then. Regular assets sound/look distorted unintentionally, so when something is intentionally designed to be scary, it comes off better because the user doesn't have the ability to try to look at a model in a different light or something like that. That's why I love the creepypastas based on the old games, Creepy Black, Buried Alive, Lost Silver, etc.
I also really like games like FAITH that take that idea to the max and push the limits on how creepy things can get in a limited format.
