Why can't devs deliver a "Next gen" graphics moment with PS5/XSX?

[Norion]

It's more time consuming and expensive to do that now so while it still happens it's less often nowadays. This year and 2026 should see it happen significantly more though since many big games targeting gen 9 hardware that started development in 2019-2021 will be releasing. Death Stranding 2 looks insane for one example.