Control and Resident Evil 2 Remake still look incredible and run well on fairly inexpensive hardware today. We don't need globally illuminated Unreal Engine 5 games with individually modeled nostril hairs on each character that require graphics cards with prices in the three digit range
Graphics should just be kept at late PS4 level for the foreseeable future to keep games as accessible as possible
I think it depends. Something realistic? I'd want ps3/ps4 level graphics. But for fucking Mario? That cartoony little shit does not have any reason having graphics at all superior to the fucking GameCube.
If I want to get picky, I'd hate to give up modern advances in particle effects and shaders. The thing I really don't give a shit about is mesh complexity.