Yeah, but at what point it doesn't make sense to pursue more graphics? Making great graphics is great and time consuming, and at certain point most people are not going to care above a certain level of detail. How viable is the continued increase of graphical capabilities after a while?
That's the thing, power also decreases time of development. A lot of time gets wasted with optimising the game for a console. See how much time it takes to port a game over to the Switch.
But Ray tracing is huge;