That's not an easy question to answer, but I'll take a jab at it.
Video games have a lot of potential to consider art differently, of course. Interactivity is, of course, a lens through which it can be examined.
Ultimately, this is a very personal question. But I'm happy to answer it. Just understand this is my unique perspective of art, drawn up from everything that makes me who I am. I'm not saying this is the right way to judge art in relation to video games and that other ways are wrong.
To me, The Banner Saga really is the pinnacle of Video Games being used as an artistic tool. I'm judging it by the same standards I judge most media, which incorporates several subcategories of art.
Aesthetics. Music. Story telling. Character.
I mean, just watch this. There are some substantial spoilers there, but I assure you it's well worth it. If you don't anticipate playing the game, or don't care about spoilers, jump right in.
That sequence hits all of my artistic sweet spots. I mean, that music? It isn't just vaguely Nordic chanting. If I'm not mistaken, it's Icelandic. Absolutely beautiful meaning.
*We are all guests upon the land. Never to stay in one place. A noble name shall never perish. I will not be forgotten *
If you don't want spoilers.... The launch trailer is okay too it's just not a straight A report card of - Things /u/UndertaleThrowawayFu uses to judge art in video games.
Definitely a solid B+ average though.