Yes! Another step forward in the field of graphics.. Soon we may see graphics approaching eye level quality
I read a blog post recently that outlined why we may never actually see photo-realistic games even as the technology improves. Basically, it's a MASSIVE amount of work/cost to create individual blades of grass that independently react to a person walking on them, vs just pasting an static grass texture on the ground. And unless the movement of the grass is really important to the story, it will never be cost-effectiv…
The algorithms to control grass reacting may be difficult to write, but that only has to be done once. You could as well have said ten years ago that it would never be cost-effective to create photo-realistic CG films, but that has been pretty much accomplished at this point, and game developers are already borrowing techniques from films.