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Weedlab said:

Oh I see. I was operating on outdated information since E3 (or rumors rather). Well ... was the previous build transferred to next gen instead of building it from the ground up? But looking at the video, it is still relatively impressive, and it is an early title for these consoles. I suppose we'll be closer to what you are describing in future installments. At this stage it does look a cut above what current gen has produced.

They basically ported the PS3 version into a DirectX 11 engine sometime in 2011 and started making it for PS4/One. Also, I don't think this is an early PS4/One title. I expect it to release in 2015. If not that, then it's a Q4 2014 release in Japan, at the earlist.

The graphics don't look a huge leap above what current gen can do, IMO. A PS3/360 could achieve those visuals if it's rendering at 480p and at 30 frames per second.