I've seen a few reviews about the game and I don't see anyone praising the game on how beautiful it looks, tbh I think if they fix the jaggies and up the resolution, I don't think its 1080p correct me if I'm wrong, then it could totally pass as a PS4 game.  Here's a comparison to Knack so you can judge:

So what do you guys think?

Well imo Knack looks considerably better even though I'm not watching on a big TV screen. But if it would be 1080p it could pass as a not very good looking PS4 game.
Thing I'm pretty sure of, is that on PS4 we'll start hitting the visual ceiling in some genres, artstyles like for example 2D platformers, games with cartoony artstyle like Knack (although there is a lot that could look better in Knack)

The knack video has tons of gameplay, while the R&C video only has like 3 seconds of gameplay.

Troll thread?

Yes, actually, just make it native 1080p, add more anti-aliasing, upgrade the effects and make it use real time particle effects, and more HD textures and it'll look like a beautiful ps4 game.

I'm still downloading it, so I couldn't say until I play it for myself. R&C has always been an underrated series graphically though.

It's a PSN title. I don't see why not. There are probably digital titles on the PS4 that are worse looking than this game.

I had the opportunity to play Knack last weekend at ebgames and imo it looks better. Much sharper.

Umm most of the Ratchet and Clank trailer is gameplay plus with the exception of a few, the cutscenes from R&C are made with gameplay footage.  There are rarely any CGI cutscnes in R&C games except maybe the beginning and last cutscnes and a couple between.

Game looks awesome, especially considering the price, so why the heck not!?

Youtube videos are a poor source to use for qualifying any graphics rendering argument. Youtube don't work like that.