I've said it before and I'll say it one more time, the next frontier is not higher graphical quality, but greater emphasis on simulation engines and material properties. We can only go so far with how a game environment looks before we want to start interacting with it more realistically. Think complex weather patterns, real material properties, dynamic fires based on those properties, materials changing organically when exposed to breaking/freezing/melting points, biological modeling of all organs/bones/tissue of each soldier during shooters, etc etc.

There is SO much more on the horizon, but people get stuck only looking at the graphical bits when the true game changers are how we can interact with the environment.

Everyone loves to destroy stuff when there aren't any consequences. Think about how fun it is to smash an old kitchen with a sledgehammer when remodeling and then not having to clean it up.