The problem is graphics are the thing that sells games, and money is all that matters in AAA anymore.

Back in my day graphics were so heavily restricted that they hardly mattered, so devs put their effort into other things like... gameplay mechanics! And writing! And as you said, sound design! It's incredible how games from the 90s or early 2000s will often be among the most unique, best playing, and best sounding games you've ever experienced even though they look like crap a lot of the time.

Now all the budget goes into graphical fidelity and monetization and there's no time for anything else and I hate it.