The graphics on your mobile/tablet is barely better than the Wii.
They are generally simple, tiny worlds which are easy to render, full of 2D sprites, low resolution textures with minimal filtering, simple lighting and shadows and barely any geometry. (Don't get me started on the Physics or A.I!)
Only plus is Tablets generally render games equal to or higher than the current consoles (I.E. Equal to or greater than 720P.)
I'm afraid we are still a couple of years away from having Tablets capable of matching the Xbox 360 or Playstation 3, let alone the Wii U, PS4 or Xbox One.
nVidia's demo, isn't even a full fledged game, we have facial graphics like that with todays games, that's on top of rendering entire worlds, imagine what would happen if developers only had a face and nothing else to render on the current consoles?

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