Consoles holding hardware back hugely

Watching the preview video the graphics look amazing. It’s great to see what used to be pre-rendered cut scenes before the game are now actual in game real-time graphics. My question is when do you think we will see actual games looking like this?

It my belief that we are currently held back massively by the 6 year old hardware on consoles and that games will only begin to look this good a year or 2 after the release of the PS4 and Xbox720.

I am not sure how much it costs to make a benchmark like this or how long but to make an entire game at the same level of detail would increase this 10 fold I would think. It boils down to the fact that there is little money to be made in PC gaming and so developers make games look as good as they possibly can on the console’s hardware and anything more is a waste.

I would love to hear your thoughts on this.

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