Well said Ona, but earning that game's fanbase would be a mjaor asset to any console.
Words of Wisdom you raise a valid argument, however the only difference between development for the Wii and 360/PS3 is the size of the budget, not the formula or structure of development.
As for Artists, Programers are these artists you speak of, graphics must be programmed, coded specifically, dealing with Lighting, Texuring, polygons, modeling, weighing the numbers of polygons on the screen at any given time, etc.
But still this must illude your question. Allow me to directly adress it. You have to understand, its not just higher graphics that are the issue here, its higher graphics that supercede the threshold of the current economy and development infrastructure. You're forcing an industry to make more expensive and graphically powerful games yet still be released at a competitive pace. Something has got to give in this equation. Graphics are the paramount priority in this equation, they don't necessaraly make the game, but without them the game isn't visually a "next gen game", it can't brag up impressive screenshots, it can't excite the hardcore crowd.
Only with Japanese developers do we really see the kind of structure you speak of where artists and game designers exist independently, Western developers have a far less organized infrastructure and much smaller development teams where individuals are expected to be multi-taskers instead of specialists meaning your developers are typicaly juggling various aspects of the game at once.