With graphics technology inching closer and closer to having photorealistic capabilities, many people might say that soon gaming will plateau and possibly die out. I would have to disagree. I believe that a graphical peak will allow for developers to focus more on quality of gameplay, artistic expression, and potentially, eSports. 

If everyone is at the same level in the visuals department, game companies will have to step up their game in other areas.  Without reliance on eye candy to promote sales, developers will be forced to focus more on compelling story and solid game mechanics, raising the bar for what qualify as "good" games. If Game A is just as visually impressive as Game B, but Game B has a more immersive story and better controls, Game B will probably be more popular.  

Are video games an art form? The question has long been a topic of debate between game developers and the government. As technology continues to become more sophisticated, it will become easier to craft immersive and socially valuable experiences with video games. This could help solidify video games as an art form in the public eye.

The effects of photorealistic graphics could help promote eSports. People like to look at things that look good, and in order to be successful, every sport needs an audience.  Also, with the aforementioned focus on solid gameplay, multiplayer games will tend to become more and more skill-based. Any kind of competition is interesting to watch if the participants are skilled contestants. People aren't as interested in a Little League game as they are in the World Series. Sports games that are immersive, and allow interaction between participants could be far more interesting than today’s generic offerings.