I realize that you are giving your opinion — I just respectfully disagree. :)
To everyone who watched the trailer, this was one of those "wow" moments for me. Not God of War III wow, but I was floored, nonetheless (even though I knew what was to come).
Yeah, well, see, that's the point. You were floored because you are involved into such stuff and know how much work was going in and how much scrutiny was needed to get this improvement. I wasn't floored, as I know this is just a fleeting moment in a game I might play for hundred hours. The reason I was impressed by Ratchet&Clank and Kena was, that they showed gameplay. Sure, Kena showed no gameplay that is impossible today, but it showed nice gameplay which probably keeps me entertained. For Horizon I am excited, because I know what gameplay to expect, but they showed little to none. The graphical improvements will not keep me in excitement over a 100 hour play-session. There might be moments when I think: this scenery looks nice, or this object looks great. But most of the time it will not be on the front of my mind, as I play.
Sorry, I know how much work goes into this kind of thing, but I also always ask myself: what if some of that work would've gone into gameplay improvements. And for some games it does. Again R&C and Kena look exciting for this exact reason. But the graphical wow that keeps you blowed away all through the game is probably a thing of the past. Alone the talk about 'watch the 4K trailer to see the improvement' makes it clear, that the improvements aren't that obvious anymore.