There was something magical and gratifying, a sort of milestone, when an FMV played that was of vastly superior graphical quality than the in-game graphics were.
Now we've reached the point where in game graphics are good enough to render the use of FMVs pointless. Although, Square Enix still seems to have a fetish for using them that they just can't let go of.
As silly as this seems, it was still a huge impressive leap above the 16 bit era.
Maybe I'm just old, but it seems each new generation is less impressive compared to the one before it. Now it's gotten to the point where WATCH TV is the most talked about new feature.