graphics matter.... mass effect Andromeda says hi.
What also matters is context. If EA made Undertale and it looked like Undertale, people would probably call it lazy, but it was made by like one dude and some friends who did music/design so the graphics are considered a non issue.
You got sonic mania which is 16 bit, but is fucking beautiful.
You got stylized graphics, and you got bad graphics. Fortnites cartoony as hell but no one cares about the graphics because they look alright.