Technology

Graphical fidelity has not materially improved since the days of Crysis 1

I think you may have rose tinted glasses on this point, the level of detail in environments and accuracy of shading, especially of dynamic objects, has increased greatly. Material shading has also gotten insanely good compared to what we had then. Just peep the PBR materials on guns in modern FPS games, it's incredible, Crysis just had normals and specular maps all black or grey guns that are kinda shiny and normal mapped. If you went inside of a small building or whatever there was hardly any shading or shadows to make it look right either.

Crysis is a very clever use of what was available to make it look good, but we can do a hell of a lot better now (without raytracing) At the time shaders were getting really computationally cheap to implement so those still look relatively good, but geometry and framebuffer size just did not keep pace at all, tesselation was the next hotness after that because it was supposed to help fix the limited geometry horsepower contemporary cards had by utilizing their extremely powerful shader cores to do some of the heavy lifting. Just look at the rocks in Crysis compared to the foliage and it's really obvious this was the case. Bad Company 2 is another good example of good shaders with really crushingly limited geometry though there are clever workarounds there to make it look pretty good still.

I could see the argument that the juice isn't worth the squeeze to you, but graphics have very noticeably advanced in that time.