Video games have reached a technological milestone/inflection point similar to those reached in other mediums in the past-- the transition from painting to photography, or from expensive digital photography to inexpensive digital photography, or CGI in movies:

Past a certain point of fidelity, the art direction/production design (what you actually choose to put in the frame) becomes much more important than raw technique.

(related: amidst a flood of crap, curation becomes essential)