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'd argue DLSS (and whatever equivalent AMD has) is pretty big, it made nice looking graphics way more accessible.
Gameplay wise you're 100% correct, I'd love to see actually novel gameplay loops.