Resolution matters, lighting matters. I'm not sure what the surprise is. Doesn't seem like lighting matters as much as resolution when we're comparing the One and PSOne games, since I haven't seen any lighting differences between the two so far.
I do think lighting means more in the long run as graphics age; lighting is what
makes color, and as models always creep forward in polygons and begin to look "cheap and outdated", lighting stays the same. Here's a Space Pirate from Metroid Prime. It looks fucking terrible; it was great by the standards of the time, but nowadays it looks like an oversaturated generic monster alien.
But the funny thing is,
nobody saw the Space Pirate that way. If you play Metroid Prime, you do not see a technicolor Space Pirate, you see a Space Pirate that blends into the dark labs and mining facilities. Lighting influences color, and it's one of the main reasons Metroid Prime still looks amazing while other great-looking games of the time (Halo CE) have aged more poorly.
The same applies to other media. Ask people what color Han Solo's coat was in the Empire Strikes Back, and they might call it blue. It's not. The actual coat is brown, but it often was under blue lighting, so people often saw it as blue.