I question how much of "modern" graphics (IE things you can get a PHD for) is a manifestation of the engine, and how much is a result of the underlying librarie

I question how much of "modern" graphics (IE things you can get a PHD for) is a manifestation of the engine, and how much is a result of the underlying libraries being used, and the fancy shaders being written. I don't think it's unreasonable to believe an engine like this could catch up.