I recommend watching this: https://youtu.be/izxXGuVL21o Naughty Dog Co-founder Andy Gavin discusses various hacks that were used on the Playstation to get Crash Bandicoot to run smoothly. The fuller version is also worth watching.
A PS4 was/is effectively unchanged hardware between Nov 2013 and today, yet the late lifecycle games look great. Upon release of the hardware devs had plenty of performance to play with, then 5 years in they have honed their craft and are able to use all the tricks at their disposal to squeeze as much graphical and performance life out of a limited resource budget.