That's probably true to a certain extent, but I'm not sure I entirely agree. You'll be able to run today's most demanding games, and future games, with max setting at low resolutions on current- and past-gen cards. If you take the chicken and egg idea to its logical end, then there would eventually be a game that not even the most powerful card could not run at even at the lowest resolution possible. But that's not what happens. With a good CPU, there are cards that will be able to run anything at (for example) 640x480, no matter what settings, and no matter which game.
There's just an upper limit to processing requirements based on resolution and a target frame rate. Games don't usually reach that upper limit, but there is one. Ray tracing might be the best real-world approximation of demanding the most out of a certain resolution and frame rate. Whatever that limit is, though, there will be a card that can handle it for lower resolutions. If that weren't true, then someone would be able to build a color switching app for one (1) pixel, a resolution of 1x1, that could bring down the Titan X to less than 60 fps at all times. I don't think that would be possible with proper coding applied.
That plays out in the real world by certain cards being able to handle any game, at any setting, at a certain resolution while maintaining a targeted frame rate. I'd bet $1,000 that a resolution of 16x9 would be incapable of bringing the frame rate below 60 fps for any game to exist in the foreseeable future using a flagship graphics card (setting aside incompatibilities and non-graphics bottlenecks).
I could be totally wrong about there being an upper limit on processing requirements within a bound resolution and minimum frame rate, and I'm open to being shown why that upper limit theory isn't true. But I'm inclined to think it's true until I see exactly where I'm off.