It does depend on the game, I think. When I play Red Dead Redemption II, it's pretty damn cinematic and immersive and doesn't require much in terms of imagination from me But I do agree that gameplay beats graphics. A great story is a great story. A text adventure could be a gripping if it's well written. You don't need AAA money to tell a wonderful story or feel immersed.
Dave Gilbert is still doing wonderful stuff with that old fashioned, pixelated toolbox of his.
Back to the main conversation:
My point about cinematic nature of adventure games was that it helped offset the slowness in return for that "cinematic" experience. The way the character walked and animated was a treat. Most sprites in old games were tiny and inexpressive (think Mario). The cut-scenes, the backgrounds, the music. But also: DIALOGUE. There were actually characters in these games. And a story. Other games of the time didn't have them: They were racing games, side-scrolling shooters, platform games. Graphic adventures stood out
It all helped elevate the slow/stop-start gameplay experience by rewarding you with things you didn't get from other games.
Now the market is flooded with characters and cut-scenes and dialogue and story (even if they're mostly done badly)... It's probably harder to find a game that doesn't have them!