To me, yes, 720p is as shitty a resolution on next-gens console as 480p is on the PS3/360. I found the blur from 720p pretty irritating while playing TLOU last year, but i put up with it knowing that it was a limitation of the hardware. I have a lot less patience for it on a new next gen console :/ It's just a personal standard i hold games to, people are free to have their own.
Of course it's an improvement, but that doesn't stop it being a bad port. If the PS4 can run an 8th gen FPS like Killzone:SF at 1080p/30-40fps then i expect a glossy 7th gen port to be running at 1080p/60fps.
TLoU had jaggies because it probably used little or no filtering effect. Hence, not all 720p games are a jaggy mess. Even a 1080p game can very noticeable jaggies without filtering.
Ghosts looks better than the 7th gen and has a better frame rate than Killzone. Its decent for a launch game.
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