To answer the question: beyond a certain point they are.
Actually there's only one thing that matters in graphics, which is that are they good enough for the gamer. You should also notice, that art style has a lot to do with how the game look like, although graphics are a lot more than just numbers on paper, visuals would propably be more accurate definition to what people mean by "graphics", or what they should mean.
@rocketpig: the problem with engines is that the games that uses common engine, tend to be too similar by it's content. They looks the same, feel the same, when the most difference is in which game has most impressive visual. Basically you get the deja-vu type of feeling.
Sorry if i sound depressing, i may have been in gaming for too long.
Ei Kiinasti.
Eikä Japanisti.
Vaan pannaan jalalla koreasti.
Nintendo games sell only on Nintendo system.
