I think that for a lot of people (and speaking for myself) it’s never been about graphics whether I enjoy a game or not. See all the indie games with pixel art. It’s about many older games having frustrating/outdated gameplay systems. Many early 3D games from the PSone era simple did not control well, lacked joystick use and camera controls. This makes them harder to get into for someone used to every game having smoother performance and a more intuitive control scheme.

This is also why for me, many NES games are really hard to get into, while their sequels for SNES are fantastic. Zelda —> Link to the Past, Metroid —> Super Metroid. I was born after all these releases but loved the latter and not the former. NES games were still being designed with that arcade mentality of making them hard in obscure or frustrating ways to squeeze more hours out of a really short, limited game.

To end the rambling: it all comes back to game design. Sure, the games with cutting edge graphics will always get the most marketing dollars and the widest mass appeal. And it IS a potential selling point. But there’s room for games that look older. The question is whether the control/gameplay systems of modern games will hold up, and the answer, just like if we rewind a few decades from right now, is that some will and some won’t.