While Max Payne was cutting-edge, a lot of what made the visuals appear impressive was due to hand-tweaking by a team of highly skilled artists and designers, who were probably using ridiculously primitive tooling. Pretty much every realistic 3D game of this era had to make do with low-res diffuse textures, prebaked lighting, mostly fixed-function rendering, pre-scripted interactions, and particle dynamics that were basically just a few lines of C++. Other early-2000's games like Serious Sam, Halo, and Metroid Prime also managed to create immersive visuals with very limited tech, using the same techniques as Max Payne.