I was going to start another thread on the topic, but we can easily use this one...
Games are becoming more "immersive" and, now, GRAPHICS DO MATTER...
Yes, back in the day (here I go again), when all you had to work with was an Atari 2600/Mattel Intellivison graphics, devs tried and tried to get the gameplay to be great and innovative despite primitive graphics.
Now, you can get both great gameplay and have the visuals be an integral part of it.
Come on - which would you rather play at this point?
The Empire Strikes Back, Atari 2600
Or Star Wars Battlefront (PC, XBox One, PS4)?
Not to mention Multiplayer over the Internet as well as download of expansions, etc.
Now we are adding VR and Augmented Reality to the mix.
These next gen consoles will add those features.
I find myself playing less and less of my old consoles and games (don't even touch the original Halo and Halo 2 anymore).
Some games do hold up well in today's time (Rogue Squadron for GameCube still looks and plays good). Though I wish many of these games would undergo the same updates that certain games are getting today.