In fairness to Sony, they've hyped it up far less than I have :)
And, the reason is obvious, I have much less to lose if I am wrong (I'm not) than they do. And yes, Hellblade will look mostly like that, but it is also further off than many of the games Sony showed (its development has shifted to UE5, for example). They also put those details all into Senua so you could say "wow"! It was a successful way to let folks know what is coming and was rendered in 4K during the stream (watch Sony's trailers in 4K, as the difference is night-and-day).
Yes right from the beginning Ninja Theory had an aim for storytelling through character looks and expressions to be just as important as other narrative forms and that's why they brought people like Andy Serkis onboard, there is an interesting making of trailer for Heavenly Sword and I remember those facial features were highlighted at the time by critics.