There is a school of superrealists in the visual arts. Some people like that. The aim is to use manual methods to depict a view similar to what a mechanical camera can capture. It takes and displays a great deal of technical skill to achieve a good superrealist painting.
The true art in an art form, however, lies in the ability to capture the essence of a subject. This is not to say that a superrealist painting is not capable of capturing the essence of a subject (far from it). What it means is that I can stand in awe of a minimalist depiction of a subject that manages to convey the true essence and admire the genius it takes to create that piece. It does not necessarily look real, but it's good art. I think the ability to appreciate the true art in an art form comes with maturity in the viewer.
I believe the same holds true for video games. There is a school of thought that believes superrealist presentation (graphics, sound) are the pinnacle of the art. I think as the gaming audience matures (as a whole, I'm not talking individuals here) an appreciation for the true art form behind interactive games will emerge, and more schools of design will establish as fully valid. Minimalist works like Tetris or Angry Birds will be broadly accepted as brilliant games.
Then again, you will always be able to find matadors on black velvet and poker-playing dogs in any genre.