Not really. It just looks like a Final Fantasy game.
It might, but in terms of operating systems, coding, camera utilization, 3D rendering, etc. its state of the art and cream of the crop.
Eh, I'm still more impressed by Star Wars and Lord of the Rings as a technical feat of filmmaking. At least a huge chunk of THAT was actually built by set makers, prop makers, and and such, and those films had impressive feats of makeup on actors, too. Avatar is just a computer program that required no blood or sweat to create. Yes, I know I sound like a snobby jerk right now, but that's how I honestly feel. I am not impressed by James Cameron's remake of Dances of Wolves in space, on any level. Special effects weren't exactly lacking at the time, so I don't see how he's pushed us forward in any significant way.