Definitely in the 'yay' camp. More stylized graphics are cheaper for the developer, easier to run on older computers, and though they do age, they age sower than cutting-edge graphics. The graphics in Age of Empires 2 look fairly atrocious know, while in Warcraft 3, released 3 years later, still look fine, if not amazing. Even the cutscenes in Homeworld, released in 1999, could be used in a modern game, done in a black-and-white concept arty style.
See?