I think graphics are great for the most part. It helps people get into the game a lot better.

But the problem is that designers have fallen into the trap of worrying more about the graphics than the game. Actually for RPG games of late, the priorities seem to be (in order): FMV, Graphics, Music and VAs, Plotline, and last (and it seems least) gameplay. They seem to be turning from "Game with a Good Story" to "Movie in which you must occasionally fight a monster". It's happening with other games too, don't get me wrong.

This is why the classics held up so well compared to modern games. In the old SNES games, the game was a game first and an artistic project second. Not that they didn't care what the game looked like, just that they'd make the game fun first and then worry about graphics and music and whatever else.