The games industry’s obsession with visual fidelity is costing them money and talent
(www.theguardian.com)
Those attributes do not add to the fun of a game imo.
I'm going to mildly disagree. I like my games to be immersive, and I don't know if it's just me, but don't find myself immersed with pixel art.
All other things being equal (a phrase doing a lot of heavy lifting) I prefer photorealistic graphics. Obviously, if a game isn't fun then it doesn't matter how pretty it is, but if a game isn't fun, pixel graphics aren't going to change that.