It is partially held back because the last gen has taken longer to leave due to supply issues. Also we have a last gen console which is going to stick around the entire generation (series s).

There's also the fact we're reaching the point of diminishing returns when it comes to obvious things like graphical quality and scale.

The trigger effects I actually quite like, but it's heavily opinionated due to it being a tangible, physical thing. Meaning for people with lower/higher grip strength it's going to differ.