I had lots of fun with Crysis because of all the options you have to solving the objectives(aside from some linear points), and the graphics were a showcase of what the PC could do. That's why this is just stupid. I mean seriously, DX9 only? 12 Players max in MP? Crysis had DX10 and 32(or was it even 64, idk) players. I'm not saying that the game might not be fun or still pretty in the end on PC, but I'm not buying this out of principle because it's a perfect negative example.
Hm, the "different approaches" were not that different in reality, as it no matter how you approached an objective, it turned into a firefight quite quickly. Not that it wasn't fun, just not very deep. And I don't think the gameplay in the next iteration will be "dumbed down" from where it is now, as it's already a pretty straight forward and easy game, even on "elite" difficulty.
Concerning graphics: Farcry and Crysis were screenshot generators, and both games were capable of runnin gjaw dropping graphics. But only a tiny fraction of gamers actually got to enjoy those, as they needed quite a hefty machine to run. Thus, both games were not really as successful as they could've been, as many gamers were scared away by the hardware hunger.
I for one wlecome if they manage to pull it off to produce a gorgeous looking game that actually runs decently on contemporary "standard" PCs rather than highest end ones. But that can hardly be described as "dumbin down". I'd rather say "sxaled down" and actually like that.