It's cool to some and not cool to others. 

I can see some Wing Commander in that footage.

cough*David Braben and Ian Bell*cough

With a 4K Oculus Rift this will be so far ahead of anything on consoles it's going to be a bit embarrassing.

Should be expected since you will need a $1500k PC at least to run it at stable 30fps in 4K

EDIT: With Occulus Rift maybe even more since everything needs to be rendered twice.

What? Was there not enough flair for you?  Maybe Todd can help:

That's really cool about the game!  I don't think they will be too much this gen rendered at 4K, but upscaled on some consoles.  So another way PC will be the only real source for 4K gaming.  The game sounds like it has good music too.

That $24 million in public funding is just astounding number...shows just how much major publishers are disconnected from what part of gamer population really is craving for.

it's a really high resolution

And to really put it in perspective here is an image explaining the difference in size vs 1080p and 720p (standard resolutions for this gen and next gen consoles).

The resolution is only but a small portion.
The assets in StarCitizen is built for 4k, everything from textures, to the GUI to even framebuffer effects, that's why it's amazing, not just because of the resolution the game is running at.