That's not ture, I have yet to see games that enable interactive smoke/fog as in the Batman/Metro series (smoke that can be pushed around and dispersed with forces), nor I have seen any game that offers the same fluid simulation as Borderlands 2 and Borderlands The Presequel, with fluids reacting to the player, and reacting to bullets and explosions, and I have yet to see any game offer the same complex clothing simulation as Mafia 2.
Fallout 4 offered the last look at PhysX particles in it's full glory, with particles debris being extremely dense and reactive to both the players and environment. Borderlands 2 and The Presequel both had an unmatched particle density and reactivity too.
Right, I’m not aware of any games with interactive volumetric effects. Games are certainly not doing everything PhysX did 10 years ago. But less is better because nobody is winning I guess.