I think it all comes down to whether publishers can control budgets of games and keep them at reasonable levels for their expected sales ...
As you hit 4 to 8 times the processing power of the HD consoles you start to hit a point where there is almost no technical reason that limits the amount of "detail" you add to a game; being that you can add more (and more) objects that are each at (much) higher detail than current generation games. Certainly, you can't render every page on every book in a library; but that library could have very bookshelf, and all the books on it, as their own independently modeled object.
If games start getting $100,000,000 budgets regardless of the appeal of the game publishers will probably have to start charging $100 per title to attempt to recover their costs.
Unfortunately (for them), I suspect that any system with $100 games will either sell very poorly or have rampant piracy.
