It's worth noting that Cyberpunk was disqualified from most awards because it wasn't playable. It actually won the only award it was nominated for--the Special Commendation for Graphics. So while I agree its showing was weak--I'm less interested in Cyberpunk than I was before, personally--it's not necessarily the case that FFVII won over the hype.
Pedantics aside though, I honestly thought FFVII had the best E3 showing of the last couple of years. The gameplay was cool, the trailer was exciting, Neal and Kitase had good on-stage chemistry, Nomura showed up, and to top things off they didn't get bogged down by pre-order details and other business things.