The generation concept is vague and doesn't really have clear definitions. I personally dislike it.
you are more or less correct, but is not so vague.
Each generation used different technologies to be sorted as a generation.
the First generation is well defined by the use of mostly sweept and straigh wings and gun armament.
The second generation used all moving tails. guided missiles, the use of delta wings was more common, variable geometry intakes and area ruled.
The third generation saw the introduction of STOL through lift engines or swing wings or canards, more advanced doppler radars and look down shoot down.
The four generation saw the use of multitarget engagement capability, 9G capability, LERXes and foreplanes relaxed stability and fly by wire and HMS.
The fifth generation is basicly VLO technologies through the use of faceting, supercruise and post stall capability.
Now each aircraft can not use all the technologies even if modified.
VLO technologies are technologies that requiere a new design.
The Su-27 or F-18 can not become true stealth fighters because they can not be modified to the level that thieir fuselage shape won`t change 100% .
In the same way relaxed stability can not be apply to a Me-262 unless extensive modifications are used.
So each geenration incorporates new technologies