I actually think it might be a cultural thing (I may be wrong, I'm no expert, but I was thinking about this the other night). Look at some of the Final Fantasy games, graphics that make your jaw drop but in terms of realism, you couldn't mistake the characters for real people (excluding the films, obviously). The same goes for game modes (and I'm sure I'm right with this) - the Japs LOVE the Master League. Two relatively small divisions, so a season doesn't last too long to get boring, being able to buy the big star players (Beckham, Owen and the like), being able to buy the best players that have ever lived (Pelé, Zidane and the like), having credits instead of real money, they love all of that. At the end of the day, Europe is the secondary market, Asia is the primary one - and we all buy the game regardless (and have no official way to say to Konami, "we don't like this", "we would love to see this changed").
I think making it look a tiny bit "manga" might actually appeal over in Japan. And I wonder if gaming in Japan is considered more for boys than for men, like it used to be over here a couple of years ago. That would explain it..