Those who remember the Commodore-64 era possibly remember the vast difference between what was squeezed out of the hardware when it was released, against what was achieved all those years later when programmers had mastered the hardware and learnt all the shortcuts and got cleverer.
All gaming hardware since the ZX80 has been this way. The PS3 is no different.
If the publishers allowed the programmers to write the gamecode without interfering with deadlines/budgets/etc, then you'd have seen Skyrim 4 years ago.
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