What OP says is true, and really, if you unpack it all, the rest of the points are true in large part because of the very first point.
The debate about graphics comes up often and, I apologize for being blunt here, is very tiresome to me.
Realistic graphics are not the be all end all answer. Proper graphical styling will always trump over realism; it is just one component of the whole. Would you buy a car based solely on its looks? no one reasonably would, because a car is a complex piece of machinery that intrinsically possesses a set of characteristics that work in tandem to deliver the intended result.
It's because of that kind of push, among other things, that the industry is in tatters. Always chasing the next big buzzword, the next useless, bloated tech in the name of "awesome graphics". Frame gen is a development crutch of the worst kind because current hardware, apparently can't deliver the big wowza graphics "everyone" wants, apparently.