I think that good animation is not a technical problem, it just needs good animators and time. Or, if you've got a lot of money, motion capturing, decent actors, good animators and even more time.

The case is similar for the camera. There's a lot of knowledge about how to use cameras from film and photography. While not everything applies to games, many things do. The new problem in games is having an interactive camera, but the only big decision there is really how much control of the camera the player gets.

Technically, many aspects of dealing with cameras have good solutions already. The only things that are lacking a bit, are related to photography. But shaders are taking care of this more and more.

With all that being said, while are there so few games with great animation and great camerawork? I believe this is simply because these things tend to take a lot of iterations and therefor time to get right and they can easily be skipped.
So, if the budget get's tight, they get skipped.