I've been noticing alot of people on this forum love to hate on CoD for using the same engine and having "same graphics" and I honestly don't see why they hate em, I personally think they're fine. Anywho, that's besides the point, Do you care about how good (or bad) graphics are in a video game? Or in other words, does the quality of graphics effect your view on a game?
As long as the game is fun, I don't mind graphics! Hell, I still play some gamecube and gbc games every now and again.
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They need to be good enough to represent the gameplay, atmosphere, characters and tone of the story accurately. Simpler games demand only simple graphics, vice versa so forth. Games based around exploration need to be pretty to have the player something nice to look at between action moments.