I don't know if anyone has noticed, but the push towards video game near reality graphics has been one of the principle causes of the current crash that the AAA industry has been feeling. Various industry people have commented on this, from the ex CEO of EA etc.
Games are just too expensive to make these days, and most of that comes from the huge overhead and resource hogging that cutting edge graphics cost (in real terms) to the overall budget of a AAA game.
So, apart from the slight error in comparing a animated film sequence to an alpha/pre alpha version of Elite's in game graphics engine, we all need to be aware of the problem that near realistic graphics have cost the industry. I hope FD steer the sensible course of having graphics that are cost effective and look good enough, perfection in graphics is killing the industry, and has been for a decade or so now. For every multi-million dollar success, we have half a dozen just as expensive failures, this is why studio's close so quickly these days, why the AAA publishers are down-scaling, and why the future of the next gen consoles (with even more expensive graphics overheads) is very uncertain.
Unless we realise that actually graphics are probably the least important part of what makes a game good, we are all heading for a repeat of the 1980's crash.
This is not saying we should all just use ASCII, but we have certainly pushed too hard against the uncanny valley in terms of computer game graphics and the right balance of what they give to a game vs what they cost (and that is financial as well as the player end concern of lack of use of imagination etc).
So I will champion the early in game graphics we have seen and say they are far and away better than what we had in Elite, Frontier and First Encounters, and that those were all 'good enough' at the time.
FD, please don't fall down the rabbit hole of chasing perfection in the graphics, it will take away so much from the other more interesting parts of the game, and ultimately could 'cost' too much.