Sticking in some crammed together Models (with inconsistant stlye), and overtly expensive Shaders, then dreaming that
this will close in to a Crysis Level.

If you target FPS , and prhaps selling something, i would like to give you and advice :
Take UT3 engine, or Crysis indeed, they have latest shaders, powerfull scene management, advanced pathfinding system, advanced physics.
What you will need will be to find a good team of 3D artists or you'll be sticked to the AAA quality default 3d models
and textures of these engines.

I played a lot FPS, i'm somewhat borred now,Bioshock was a great alternative.
Half Life 2 brought great physic puzzles.
Skyrim have some great FPS camera system very immersive.
Metroid on Gamecube was great also.
Minecraft brought originality and free crafting system.

Shooter games are too much the same, not enought innovation.
Game makers should think of more interaction , less shooting or fighting and more other special actions.