relatively speaking, 1st person is more realistic and immersive than 3rd person. so just because both aren’t totally realistic, doesn’t make them the same.
and the problems with 1st person vs 3rd person can easily be changed by tweaking field of view. voila, now your fov is as wide as in 3rd person.
other means of letting you see your own movement better are in the video already. there’s total body awareness.
no matter how functional 3rd person is, the fact that you cna see over and around corners, and view yourself as if there’s a camera strapped to your back, makes all the “realistic” features about it moot.