PC and Console will be on 1st generation Ray Tracing. Tech never gets everything right on it's first outing.

This year the PC will get 2nd generation Ray Tracing from nVidia though... But we are still years away from achieving true, accurately rendered photo-realism, fully ray traced worlds, current methods are more or less rough approximations.

Ok 3 gens. That’s like 20 years. Cmon let’s be optimistic :)

I do maintain that FPS and resolution will always improve. Loading times, texture pop in, etc. but actual graphics tech in general has a natural limit that’s perceptible to the human eye.   

Even with this current model of producing 3D game worlds, which is (extermly simplified) polygons with stickers, we're nowhere near the end...let alone when paradigm shift finally kicks in, with volumetric representation of 3D worlds. 

The current paradigm of "running games" is essentially a hack, it's a "rough approximation" to "simulate" as close to real-life as possible given our current hardware capabilities.
But it's not accurate, we cheat.

We are a long, long, long way from achieving true photo-realism.

For the next generation after the Switch, I'd be happy if it's strong enough to be to PS5/XSX what Switch 1 is to PS4/Xbone.
Not sure how soon that will be viable.

after playing through death stranding, i don't need any graphical leaps going forward, . I already felt like i was in that world. I think the issue wit htrying t ogo for further photo realism, is that it can be distracting at times from the game experience, Instead of being in character and in narrative, stopping and thinking" how realistic these textures are" can break away story immersion and pacing. What's alot more importn tnow is AI, PHYsics, and ading more of that detail to the world, which will be possible thanks to the cpu/gpu, ram increase and ssd advantage. Will be a massive change going forward,

I don't like the unrealistic physics.
For example, if you shoot a rocket launcher against a wall, it won't break.
I hope this will change.

I think there's still a lot of room for improvement. Path tracing might be out of the question for demanding games next gen, but I'm expecting much better world simulations where games feel more alive, more assets variation and overall much more complex level design.

I don't think it will, unfortunately...there were few games back in days that were doing that, but they were purpose built like that.

For every game to have such physics, there needs to be a paradigm shift in how 3D worlds are represented, that is, they need to become volumetric and not just empty shells consisting of polygons covered with textures.

But honestly, not every game needs such physics, and I'm not so sure most developers would even want to deal with that in the first place, given how much easier would be for players to "break" such games.