This wasn't unusual sentiment for the time. Historically, consoles had a stark difference in quality between the initial batch of games for any system, and the last AAA titles for it. Compare Super Mario to Super Mario 3 on the NES. Or Donkey Kong Country vs Super Mario World on the SNES. Or LoK: Soul Reaver to Tomb Raider 1 on the PS1.

Some of the later PS3 games still look incredible. The biggest graphics limitation is resolution.