With all due respect, I don't think you understand light and shadows. The edits you made to the screenshots are significantly worse than the actual screenshots, and this is for one main reason: you're basing your gripes on a single frame of reference. Video games and films are meant to be seen in full motion; seeing them in motion allows us to notice the way light changes, the way day transfers into night, and the way liquid acts.
I'm not sure I understand. If you capture a screenshot of your game at any point, sure you lose the motion element. But it gives you a fairly good idea of how the game actually looks. By your definition, those:
http://www.gamus.com.br/wp-content/gallery/mafia-ii-2503/mafia_ii_-_feb_2010_preview_event__1_.jpg
http://ve3dmedia.ign.com/images/07/36/73623_DeusixHumanRevolution-Screenshot-06.jpg
http://www.ps3informer.com/playstation-3/2010/07/29/rage_screenshot.jpg
Are equal to this:
http://www.platformnation.com/wp-content/uploads/2010/08/fallout-new-vegas-screens.jpg
For instance, Deus Ex 3 is a game that is highly stylized and is still far more more realistic due to better lighting. You don't need to choose between realism and style, they can go pretty well together. Perhaps I shouldn't have attempted to add filters to the images to explain what I meant. But there are plenty of screenshots out there of console games doing a better job at setting the example, and they do that without losing any sense of style.
I pretty much agree only visuals won't make a game memorable, just like special effects don't make a good movie. But developers are expected to progress in both fields, technical/cosmetical and interaction. They are what define what a VIDEOgame is, a combination of graphics and storytelling. Many people are not fond of realism, which is okay. It's a matter of taste. But immersion is a big factor in pretty much any game out there, especially RPGs. The dedicated fan would play Skyrim on a modded Morrowind and he'll say it looks spectacular. Standards are raised with time and technology. For example, the original King Kong animatronic wouldn't have worked for today's audiences, perhaps only for the big fans willing to believe in first place.
I don't understand some people here. I'm a big fan of TES, I've spent over 250 hours in Oblivion in several playthroughs and I'm sure I'll enjoy Skyrim. But to call it great looking is just not realistic. Does it look bad? Absolutely not. But so far, it doesn't look much better than Oblivion and Fallout, in all honesty. Does it matter? It does to me and a whole lot of people, some of which will be playing it anyway.
I'm sure Bethesda understands the importance to remain competitive and that eyecandy is a major selling point for the casual gamer. That's the industry today, and probably how it's ever been and ever will be. Let's only hope they're hiding something then.