For sure people have their own experience and appreciation for what is considered a big leap. I think almost everyone can appreciate the difference between low/high quality settings with a resolution & FPS boost thrown in. I think the point is that it's not a generational leap or what will define a system. It's more a more polished version of the same experience (most times)
I think for the general gaming public, especially on console, a big leap isn't really defined by settings (low vs high textures etc) but instead the overall target experience of what the developer is able to accomplish.
FPS and resolution alone don't make a huge jump. Consoles have constantly gone between 30-60fps as opposed to a consistent push for 60fps, so clearly people do not 60fps as a generational leap. The only place where this doesn't apply is to fast pace FPS' where 60 became the default last gen. Resolution can constitute a big jump but its always been coupled with other significant improvements in overall rendering and once we hit HD gains were not as significant.
PS4 HD remaster btw (so on pS2 looked worse)
Now jumping from FFXV to XVI
This is what hardware defining gaps are and the first 3 can't be achieved by changing settings. Evidently by the last example, the gaps are getting smaller and hence there is less need for Switch 2 to be punch toe to toe with PS5. If it can be somewhere between FXV and FFXVI in terms of a port, then that is probably a comparable experience to the average console gamer. (not the best image of FFXVI BTW)