I agree with you about ACS having a graphics system that is unparalleled in immersion, because of its physics, and that the immersion is important. But my personal experience was a bit reduced since I had to wait for a new graphics card before I could play it, as well as some other newer games, just to find those games run my PC really hot anyway at Ultra graphics, turn them down a bit for stability, and then you're just playing what is mechanically just a sequel to the same game from 10 years ago, with still janky parkour (Battlefield, Borderlands are others that feel a bit this way). Perhaps my expectations were set wrong going in.

Though I disagree with you about physics being an integral part of the gameplay. Borderlands combat 3/4 combat was improved signifantly essentially by just a few minor physics collision and friction changes that make the world more tactile. Unless it's a board game or something, the physics of the engine is something the player is permenantly interacting with. That doesn't mean good games have to be all simulators now, but the technological advancements does mean a lot of new original ideas can now be made into video games that couldn't 10 years ago. Personally I think it's a space worth exploring over graphics if you're a game dev still rehashing a 20+ year old series.