Its hard to imagine games looking much better than they are in 2019. Even if the hardware allows for higher resolution, more detailed textures, etc. the manpower still needs to be there. I dont know how video games compare to movies in terms of time and money but I read that a single frame in the movie Frozen took 132 hours to render.
I think the technology is being greatly underutilized at this point, only because itd take years and years to produce a game that really pushes the PS4 and XO to their limits. Remember what most games looked like on the SNES compared to Donkey Kong Country? Or how most PS2 games looked compared to Gran Turismo 3 and 4? In some cases, it's hard to believe they are on the same platform.
Anyways, I really think its at the point now where the technology is plateauing. Music media essentially reached its peak with the compact disc. No one looks at a CD in a jewel case made in 1991 and goes "oh wow, that's so retro." But look at how people view movies and games produced in that same era.
Even today, PS2, Xbox, Gamecube games dont look retro to me despite being almost two decades old. The snapcases and optical media dont look much different from today and the graphics arent leaps and bounds behind the games of the newer generations. Much better obviously but nothing compared to the differences between the N64 and the GameCube.
I dont know what can really be considered retro about todays games in 20-25 years. You can only put so many buttons on a controller, only have so many pixels on the screen that are discernable from one another.