Neither did the Xbox, not at 60fps anyway. So are you going to argue that the PS2 had better gaming hardware than the Xbox as well? Really?
And the PS2 doesn't have the raw specs to run RE:Revelations at even a dozen frames per second, so what exactly is your point? If you design 3DS games around pushing as many single textured polygons as possible of course they're not going to look great. If you port a high end PS2 game as is and don't add any nice lighting/shaders and you don't increase the texture resolution then its absolutely going to look worse than its original incaranation, but I have to ask why in the fuck would any sane developer do that? Kojima ported some scenes from MGS3 in a few months and despite compromising the raw vertex count somewhat the game looks lightyears better on the 3DS because the texture, the lighting and the general level of effects are prettty much an entire generation ahead.
Designing hardware with incredibly strict cost, size and power constraints is all about smart compromises. You can't make a machine that is all things to all men, that offers ridiculous throughput, all the fixed function hardware under the sun as well as incredibly flexible shaders on top of all that. You have to make a choice on which areas the system excels at and compromise those that are of lesser importance lest you make this thing cost $400+ to manufacture, be physically huge and run down a chunky battery in under 2 hours. There's no magic here, its all about smart compromise.
