As computer hardware advances are made, affording much faster processing speeds and memory capacities, what concerns emerge regarding the efficiency of algorithms?

One field of study that has continued to push the development of faster and more streamlined algorithms is that of computer gaming. Some games process large arrays of $3$D objects, often at $60$ frames per second. Why would it be important for game programmers to pay special attention to the efficiency of their algorithms?

In a $3$D game environment where nothing is critical $($no lives are lost$),$ sometimes less accuracy in rendering the objects to the screen will provide more speed. Thus, the presentation accuracy is sacrificed to the presentation speed. Is this an acceptable trade$-$off? Why or why not?