I have to agree with the OP. Obviously, what constitutes as "better visually" is subjective, and we also have different opinions about how much visual fecundity adds to our enjoyment of a game.
But it is obvious that there is some diminishing returns at play here. A game running at 1080 requires twice as much processing power as one running at 720, but can you honestly claim it looks twice as good on a normal TV? As for lighting and particle effects - I really couldn't care less whether I can see the reflection of my opponents back in that light bulb hanging from the ceiling.
For me, this generation is all about unique gaming experiences. The Wii U has the gamepad, XB has the Kinect, but the PS4 is sticking with the traditional controller. For me, that means the PS4 is the least likely to add anything to what we've already had for the last 20 years.
Others disagree, and that is fine, but my wallet is not aching for Sony at the moment, even though they have the most powerful console of the three.
