> But animation students have been producing similar quality visuals for their show-reels for ages. All that has changed is the ability to render faster, but the creation of this content is still being done by the same processes.

Have you seen modern texturing pipelines? It's most certainly not the same process as 10 years ago. Have a look at this procedural wood flooring generator, built in Substance Designer's node-based texture workflow: https://www.youtube.com/watch?v=Zc5Pdcbjr0U

Same for animation. Doing it by hand won't get you the quality of results that you need for photorealism, so we're bringing in new processes that require a bunch of equipment, a bunch of time, and probably multiple crew members. Used to be you'd make a walk cycle by hand, now it's mocap. With the same old processes, there's no way Star Wars: Battlefront would have been able to make its content in the volume it needed, even with a large art budget.

Now that we know how to create these assets on at least a somewhat feasible budget (compared to armies of artists manually doing 8K textures in Photoshop), the next step will be taking this high-end work intensive stuff and bringing it down to the point where we can crank out similar quality results with lower time investment. It'll take a couple more years, but there's definitely a demand for it.

Releasing today: Substance Painter 2 https://youtu.be/1pIoA34MVBA?t=26 (warning - annoying soundtrack)