Its actually a lot more complicated than that. First off...3DS max is only as good as the render engine it uses. The default scan-line renderer or mental ray that come with it are "OK" at best, but most people choose to load in a 3rd party render engine such as V-Ray or Maxwell renderer. Secondly...there is no "just set it and forget it" when it comes to CG. We spend hours upon hours making custom shaders (the things that make the polygons look like something other than a flat shape), setting up COUNTLESS lights, and adjusting various other settings such as smoothing, anti aliasing, light bounces etc etc etc.
Side note: 3DS Max is horrid for most CG Jobs. Thus why its mostly used for Games. For feature quality, its usually Maya running with a custom render engine (Renderman, V-Ray, etc), in conjunction with other tools such as Z-Brush/Mudbox, and Mari. The REASON 3DS Max is so "Popular" stems from a few things. Its one of the first CG Suites you learn if you go to college for it, and its also the most pirated CG Program in existence. The other reason its so popular is because it has a lot of "cheats" through the use of Plugins. Which sadly have a negative effect on the industry as a whole...a "one click" solution only shows you as being lazy and won't land you a job. Sorry..just ranting
LoL..give you a hint as to what I do for a living