Graphics tech has been good enough for a while. I wish developers would start giving more love to improving other areas like physics, AI, and speech synthesis, that can make a game actually feel and play more realistic than just eye candy would.
But I guess those other technologies depend more on the CPU/RAM etc. which consoles lack in, so they don't want to bother with that.
Here's an example of how games have actually been going backwards in almost all other areas except graphics:
Far Cry 2 vs. Far Cry 5: https://www.youtube.com/watch?v=FCeEvQ68jY8