Oh? Find me a 3DS title with visuals on par with Ridge Racer V.
http://www.youtube.com/watch?v=US2-Hvjr6Ls
That intro was really impressive back in 2000. 100% realtime at 60 fps. Ridge Racer 3D doesn't feature nearly as much detail in its visuals and runs at half the framerate. It was jaggy, a common problem with early PS2 titles, but the resolution was still higher than what you see on 3DS.
Also, developers weren't familiar with the visual techniques necessary to produce high quality PS2 games at the time. The 3DS in 2011 is old technology and should be much easier to exploit.
Of course they will, but I doubt any leap will be as significant as what we saw with PS2.