I wouldn't really lower my expectations to think that the legends this generations would be horrible by any means. Maybe I'm just more of an optimistic person, but yeah, that's how I see things. u_u This generation has the potential to bring about some cool looking legendaries, at least going from Xerneas' and Yveltal's designs.
On the other hand, the designs for the Unova dragons were actually rather cool, but we also got a slew of legendaries that had essentially no back story whatsoever thrown in as well. I mean it's possible to have a nice amount of legendaries with cool designs, but with the trends from the last two generations it's looking kind of bleak. Of course, I'm hoping that they pull through and we get some cool things (regardless if we have fewer or more)!