All of generation 8 seems like diminishing returns. I still play games where I go "wow" at the graphics, but I still can "wow" at PS3 graphics as well. Really the average game of generation 8 looks like the best games of generation 7. It's a nuanced difference.
Every generation before had a very dramatic leap going from the previous generation. I remember being amazed at every step going from generations 2 - 7. But at generation 8, we are many years into it, and the games still only look marginally better than generation 7. Resolution doesn't really seem to matter much anymore. Art direction seems far more important.