N64 limitations came in cartridge size — 64MB vs 600+MB for CDs. Voice acting and cutscenes were largely nonexistent.
There's no denying that there's great N64 games, but Nintendo crippled the console outside of first and second (Rare) party development. The same trend continued with the Gamecube (despite it being more powerful than the PS2, the Gamecube disc held 25% of the capacity of a PS2 DVD).
If their portables hadn't dominated the market, the mid 90s to mid 00s would've been a terrible time for the company.
Of course Nintendo is doing great now, so you could say it's all a moot point.
Has anyone tried doing the same for the N64? Seeing what would be possible for an N64 game given an emulator tweaked to allow an unlimited ROM and VRAM size budget and (effectively) zero DSP DMA delay?