I don't think this is the case. The primary limitation for games is cost of development. Creating content with an order of magnitude more detail is too expensive.
The power of the last two generations of console have allowed developers to make high quality games cheaper. But they are also lazier. We aren't seeing the hyper optimized experiences that fully utilize the hardware like late generation PS2 and PS3. Consider that a PS3 has only 256 Mb of main RAM and 256 on the video card.
The power of the last two generations of console have allowed developers to make high quality games cheaper. But they are also lazier. We aren't seeing the hyper optimized experiences that fully utilize the hardware like late generation PS2 and PS3. Consider that a PS3 has only 256 Mb of main RAM and 256 on the video card.