The older I've gotten, the less I've become impressed purely by graphics. I'm more amazed by visually creative art styles rather than the chase of photorealism. No Rest for the Wicked and Kunitsu-Gami: Path of the Goddess being great examples of being insanely beautiful to look at, but due to the art style the developers went for.
I'm sure there's still ways graphics can continually evolve going forward, just not in anywhere near as big of jumps as we've had historically. Like the biggest next gen feature we've had this gen is the inclusion of SSD's rather than a generational visual leap.