Its monsters and weapon effects, and the amount of chaos happening on screen at once sometimes is indeed very impressive we agree.
When I assess graphics though I'm just personally more about the whole picture rather than what it took to get there, so to me I'd rank a more polished game with less going on over a more demanding but less polished presentation. I guess that's just me though.
At the end of the day, its definitely a strong showing for Capcom, their RE Engine, and the Switch. I just feel a few of the sacrifices necessary to get there keep it just shy of the very prettiest Switch games to date.
While having the fur, lighting effects, and screen-space reflections at the level they do? This is an incredible level of polish, don't make me dig through my footage for some water fights, lol... I'm wondering if your definition of "polish" is more along the lines of sterility/serenity in a scene. SM3DW, while graphically good, is also very sterile, or "clean" as some people might put it. Is that what you mean by "polished"? For me, polish is a state, ergo, polished graphics is the fact that they have fur, lighting effects, alpha affects, four people, and four dogs, all running together without having to pull anything to make it work on very weak hardware. I think polish is a state of completeness, a definition of "we took the time to make it all work and put it all together", or in other words, polish it. Cyberpunk 2077 while graphically VERY impressive (I played it on a PC maxed out) needs a lot of polish.
I DO think you're mixing aesthetics up with graphics, though. While I actually lump them all together in the "presentation" category along with story and music myself, generally aesthetics and graphics are two different things. It's THE reason Nintendo fans are so adamant that Nintendo games still look better than "other" games that are often graphically superior across the board. I think your preference is a sterile scene, something that focuses on the art style and conveys a sense of design direction by the artists as opposed to the more technical aspects. As a reference point for this: Ratchet and Clank is a very strong combination of aesthetics and graphics. My bet is if you agree on Ratchet and Clank, then you are definitely more inclined towards the visual appearance as opposed to the entirety of the scene (as in, alpha effects, on-screen action, etc.).