Games Don't NEED Graphics

Thinking on the lack of sales for games like Final Fantasy XVI, Rebirth and more, have graphics as a selling point lost it's luster? I'm reacting to Max Dood's conversation...
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Does high graphic fidelity matter for the game you're playing right now?
I also cut out quite a bit of the video funny enough and looked into some data that showed from roughly 2007 until 2013 games averaged 3-4 years of development cycle and from 2013 to now that number is 4-5 years, but it doesn’t feel like that does it?
Original video: ruclips.net/video/2CXJZuNkJAo/видео.html
Dev video: ruclips.net/video/LMVQ30c7TcA/видео.htmlsi=u2rFAkyjZFeaaY4D