Video games always have evolved even since Ralph Baer created the odyssey. We might have a halt in graphic due to the fact that it looks just very realistic right now, but that doesn't mean we will limit our creativity. This is when we start suplementing more surrealism into video games. More hyper realities and more inter activities. I'm sure more developer will focus on the future of VR as well.
Always remember Watchdogs
We did great from 2008 to 2012 due to the silver linings, the second golden age of video games. During this recession companies stop selling hardware so many companies focused on software, and they got better and better on their software development. This is why right now we get stunning video games but now since we are not in the golden era we might be seeing better hardware evolution than software. In my opinion.