I think the only problem with the games they're making these days are that they all have really shiny textures. I keep noticing that in alot of games like for example in alot of games people have shiny faces for some reason. Graphics help the game but its playing that that matters. I say do what Nintendo does and focus on the art too. they did that in Metroid prime and Zelda.
By the way even with graphics aside Bioshock was a great game... a little over rated but great.