Sure, but not always. Future games will have more detailed assets which will require more memory. Running at 4K or higher resolution will be more common which also requires more memory.

"Because in the real world, I have to write up lists of stuff I have to go to the grocery store to buy. And I have never thought to myself that realism is fun. I go play games to have fun."

Gabe Newell - https://www.gamesradar.com/gabe-newell-says-games-dont-need-...

Detailed assets don't equate good games.

Doesn't mean games are going to abandon realistic graphics styles.

I also believe Gabe Newell was referring more to gameplay mimicking real life rather than art style. Makes a lot more sense when you remember that the Half Life games have a realistic art style and pushed limits of what was capable at the time.