It really speaks to the talent of the people making this game that people mistook it for Switch 2 footage.
Great to see that the series tradition of pushing Nintendo hardware continue; Prime 1 and 2 were among the best looking games on Gamecube and Prime 3 was one of the best looking games on Wii.
This is looking like it could be one of those late-life games that really maxes out its system, a lot like BOTW and Fast Racing Neo on Wii U, God of War Ascension and TLOU on PS3, Halo 4 and Gears 3/Judgement on 360, TLOU2 on PS4, Gears 5 on Xbone, etc.