I often wonder what that would look like, the great irony would be the game would be a technical beast, but the resolution would be so incredibly low you'd never be able to actually appreciate it.
For a sort of example of that, check out Fast Racing Neo on the Wii U. To overcome the limitations of the console and achieve 60 FPS, they rendered everything at 640x720 with no anti-aliasing, and that resolution even fluctuates dynamically during gameplay. But because of that, the lighting, texturing and post-processing effects are PS4/Xbox One caliber, and the visual compromises actually complement the style of the game.
Digital Foundry had a great analysis of it a while back.