Basically, it's my opinion that the most appropriate use of pixel art is in low poly 3D models. This recreates the early days of 3D gaming, and it's what will feel nostalgic to the newer generation of gamers who grew up with Nintendo 64 and Playstation as their first consoles. 

These younger gamers won't truly appreciate 2D pixel art, as they never spent toobmuch time as kids playing games that waym Instead, the thing to focus on for nostaglia is now low poly, pixelated 3D textured models. Thanks to the extreme popularity of Minecraft, this style will likely remain nostalgic for upwards of 10 more years. After that, who knows.