Personally, i consider photorealism the result of a combination of factors, rather than just graphics with real life like quality. The more we aproach to the uncanned valley, the more easy we detect when something is fake. I really think that animation is one of the things that really need to mature before we really achieve photorealistic graphics. You could have the most realistic sequence being made, but if your character mover weird or like a robot, then there goes your photorealism.
I think that we are still 10 years away from photorealism