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Lower graphics quality means less strain on the system and therefore a longer battery life. Pokemon is meant to be primarily a handheld game, so GF has motivation to reduce the system's workload. I would have loved to get a Pokemon game with the level of detail found in BotW or even Pokken, but to call the graphics Gamecube-quality is to look at the Gamecube with nostalgia bias, at least as far as Pokemon games go - which is to say the quality of Colosseum and Gale of Darkness. In any case, this isn't Metal Gear Solid and this isn't Final Fantasy. I don't go to [insert your favorite burger joint here] for visually stunning food. I go because they make a good burger.
But then, I thought HGSS were really lovely, so maybe I'm looking at it with nostalgia bias too.
Image is Viridian Forest if GameFreak was trying to be Ninja Theory.