AOTD just may well still be the best subsim so far, but the graphics will always turn modern gamers off, even the ones who say they prefer gameplay to eye candy. The fact is that visuals and sounds do make a big difference to our perceptions of what is real.
While we're on the subject, let's talk about SH1. Yes it was the Pacific, but it was also the original Silent Hunter title, even if it wasn't yet owned by UBIsoft.
SH1 had a captain's cabin with radio logs to read and a tear-off calendar which showed the weather and the moon and sun rise/set times. It had lifeguard missions on which, if you were close enough, you could see the planes fly overhead and bomb their targets. As with AOTD you could abandon ship, and would be informed if you were rescued, captured or died somewhere in the ocean. Missions were random and easily understandable, and you weren't penalized if you didn't carry them out. Of course you could be relieved of command for not being aggressive enough in your ship sinking.
It had its quirks and problems, but is still a great game today.