Can graphics keep evolving? How? For how long?

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When I was in school in 2000, I read in a magazine that the next Nintendo console after the N64 was coming out soon, and my child's brain went "but how can games look even better than Banjo Kazooie?"
It always feels like we're near the peak, but humans are nothing if not inventive and I'm sure we'll find new ways to amaze and innovate for a long time to come.

It's not even just about pushing the cutting edge either; because mobile technology necessarily lags behind desktop and home consoles, there's still a lot of ground to cover in the portable space. We haven't yet seen for example what Nintendo and their partners will be able to do with a hardware a generation beyond the ageing Switch.