Something I've wondered is whether technology like this could eventually be self-defeating for hardware manufacturers. Rather than the evolution of graphics deriving from improved accuracy of the optical simulation fuelled by advances in computational power, it may instead derive from optimising subjective video quality, similarly to video codecs.
While accurately simulating optics is needfully computationally expensive and gives special-purpose graphics hardware an advantage, it's not clear that psychologically subjective high quality graphics (i.e. generating visuals which are inaccurate but convincing to humans) has such a need.