Well to begin with I´d reforce Alex´s position that the criticism about graphics is often way overblown. The engine is unquestionably dated and lacks modern resources, but there´s more to looks than just that.
This is standard rFactor (from 10 years ago):
This is Race07:
This is AMS:
All things considered - engine, models, textures, shaders - its graphics are as far beyond the standard of 10 years ago as it is from the standard of modern games - kind of something in between. I´d give it a 7 myself, but I may be biased
The point stands though that graphics is not AMS´ winning attribute - it was never conceived to be, as it simply wasn´t an achievable goal for us for this year on the development path we have been on for a couple of years now. AMS was conceived to score a few 10´s or thereabouts in key areas and have graphics still good enough to make it all-around competitive amongst its peers for sim racers. It satisfies our user base and bring enough new people in today to fuel further development, including updating the graphics engine for tomorrow - something that´s hard to do if we don´t have a competitive product out there doing business. More importantly, it exists as is because it satisfies ourselves like nothing else - if that wasn´t the case, I can assure we would have moved on by now.
There are people like the OP which rely a bit more on graphics to immerse themselves in the experience - nothing wrong with that, some brains are wired that way. Others can get past these limitations the minute they start driving, and find that on that front it delivers something they may not find elsewhere. And while it´s fully expected the package as a whole will not appeal to everyone, it would be a shame for any sim racing enthusiast not to give it a go first before making his call - a lot of people still get surprised by what they get once they get past these initial preconceptions. Get it, take it for a spin, and if it doesn´t do it for you get a refund. It´s an easy life being a gamer these days