The proof is in the pudding (Score 0, Redundant)

World of Warcraft is the most popular game of all time. It attracts hardcore power gamers as well as 7 year old power nappers. The graphics engine for that game has essentially never been upgraded, and most of the graphics are downright cartoony. Subscription fees alone gross over $150 million every month. Graphics only sell to hardcore gamers with high end machines, and while they most definitely add a great deal of immersion, many people who play games could care less how much better this water looks than the last game's water. All that really matters is that it looks good enough, and plays very well.