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I could be wrong but I think there are 2 schools of thought on game graphics:
1 - If the player despises the graphics they won't get past the first few hours and will most likely stop playing, regardless of the popularity or reputation of the game.
2 - If the gameplay is weak, the most beautiful graphics in the world isn't enough to keep the gamer playing.
Or is there a larger grey area? What are your thoughts on how important graphics really are to you? Pick the strongest answer.