[citation][nom]descendency[/nom]Why does every idiot on the internet seem to act like graphics do not matter... [/citation]
It's not that graphics do not matter, but that they are not necessary to make a good game - nor do they make a game good.
Sure, good graphics can help with immersion, but so does a compelling storyline, an intuitive control scheme, a sense that the player is controlling their own actions (to some extent at least), and most importantly smooth gameplay (eg minimizing: lag, time between save points, the ability to "dead end" if you save at the wrong time, unskipable cutscenes, unskipable cutscenes following save points, loading time, glitches, time wasted trying to get money/experience, etc).
Basically, if a company fails on any of these then game play suffers regardless of whether the rest are excellent. Do amazing graphics make up for Crysis' shortcomings? I would say "a little."