It's certainly improved from VC1, there's no question there.
But it doesn't even look as good as some of the high end ps3 games, much less a ps4 game. I know a lot of this has to do with the art direction but this amount of detail on the characters, the textures, and lighting all could have easily been accomplished on ps3. Obviously, we'll have to wait and see but hopefully there will be a silky smooth frame rate and tons of stuff happening on screen to justify the simple looking visuals.