I'm more interested in the new gameplay innovations we can possibly experience rather than graphics... Gameplay has been stagnant since the X360/PS3 days since CPU power has been quite the limit ever since then. Now that that has a big jump and we have SSDs, new experiences can more easily be created.
Graphics have improved a lot, but, there aren't that many new games that have blown me away in the recent gen. Most that have are B-tier stuff like Life Is Strange, Hellblade, Child of Light, Telltale's The Walking Dead... None of them AAA titles. The AAA have gone into the SJW route, which ultimately negatively impacted the games...
So, I hope, that this gen, we will see some truly innovative stuff. Graphics to me are nice, but secondary. I want new ways of stories being told and new ways of experiencing gameplay.