I've seen better and that was like 4 years ago.
I think graphics are mediocre (especially lighting, shaders and texture depth). I think aesthetics is amazing.
Well said. The technology of Skyrim isn't half as impressive as what that technology is being used to display.
Art style, design, and the subject matter (themes/setting) are more important to me than graphical superiority, and Skyrim is impressive on all counts. It's why some older, much less graphically sophisticated games can look far better than newer, more technically impressive ones (random example: FF9 vs. DA2).
On the positive side, Skyrim's still quite impressive on a purely technical level, so the combination is a winning one as far as I'm concerned, and I agree with the OP.