Oldhammer
Oldhammer is the collective name for the people/movements dedicated to the playing of pre-2000s editions of Warhammer Fantasy and Warhammer 40,000 (A.K.A the golden time of GeeDubs and wargaming in general.) They are mostly Grey Beards who lived their childhood through the 80s/90s. This doesn't include those refuse playing Warhammer: Age of Sigmar and instead turn to The 9th Age or similar homebrews.
Problems
Right of the bat, there is nothing wrong in theory with people refusing to play the latest edition. Gaming is all about fun, and if walking down the nostalgia road does that to you, then by all means do it. Even Powergamers can find a reason to be an Oldhammer, since they don't have to worry about new Army Book/Codex update anymore.
But then there are a few problems in practice:
1. It is hard to find players who are willing to play the older edition with you. Yes, you may have your good old group of friends, but then you can't expand your opponents to newfags. Not to mention that wargaming has already been a niche hobby.
2. The lack of expanding materials. It isn't just about Advancing the Storyline, but about crunch too. As much as we RAGE everytime there is an Army Book/Codex update, imagine playing battles that get more stale with time. Let's face it, not many gamers change their playstyles unless an update force them to. And even then, there isn't much more that hasn't been already experimented before.
Two of the above can be fixed (in theory, at least) by a self-evolving community like The 9th Age or Endhammer. But only time will tell whether it is true.
External links
Blog of a dedicated Oldhammer This guy has been fan since the 80s, and he knows awful lot about Warhammer Fantasy of that time, like a now-obsolete Specialist Games starting Goblins trying to outshoot each other with a catapult. Geez, the most brilliant minds have left GeeDubs ages ago.