Since Ubisoft started taking control.
Some developers are sticking to the good ol "gameplay is everything" ways of gaming.
However, it's more than just separating graphics and gameplay. Developers need to do what Valve has done, and make the graphics a huge contribution to the gameplay.
A lot of people think most gamers believe a game is only as good as it's graphics, but really it's just all the new gamers that haven't been around for a while, along with another small fraction of people who only like games for cinematography.