The biggest issue is that the Citizen Kane of gaming would require a huge budget to afford the voice acting, animations, scope and graphics required to evoke those emotions.
But at the same time it would require gameplay that isn't action orientated. These two things are in conflict.
Gaming is still a virtual toy. The few devs who try to make it into something more might have the critical acclaim but not the sales to elevate it to a higher level. Bioware was a strong contender, their games became more complex and they were close to creating a emotional experience driven by the story and with action as an optional element. But EA happened and they switched gears, their focus is now on the action and although they might still produve a great story it will never be the Citizen Kane of gaming.
Some thing is true to Bethesda (albeit less so), Skyrim is focused on action gameplay. There are other elements but they've been dumbed down. Now only one skill governs the dialogue and trading elements, and the issue isnt just that it is only one skill but that the things this skill does are also less compared to previous installments. This makes Skyrim interesting to a larger group and it will also generate critical acclaim. A lot of sources will speak of it as a revolution for its scope and focus on details but most of them never played the previous installments.
Games will first have to grow as a popular form of simple entertainment. The Wii and Kinect will help with this. It won't be until it 'everyone' is a gamer that the real masterpiece will be made, just like 'everyone' already watched movies before Citizen Kane was made. Only then when there is such a large audience will there be a studio that is able to garner the talent and budget to create a game that offers gameplay that is not just about action, but is also interested to a large enough audience to be profitable. It won't be Bethesda or Bioware, but they will have contributed in their own way.

