Do as i say, not as i do.

Raytracing (real-time reflections) you can see it in the puddle, better PBR materials, higher resolution, higher resolution textures, more light sources and effects, motion blur, better depth of field, more particle and post processing effects.

Edit: And thats from that image, just found out that this game also has raytraced shadows. And I imagine this will also have much better LOD.

You literally can`t see the difference in the lightning and effects?

Just to highlight some differences you can see real time reflections of Miles on the ground and water. 
The colour fringing on the edges of Miles is much more defined and realistic, you get a sense of how bright the headlights are by how much light is bounding off of his suit. 
Resolution improvements and higher texture qualities means you can see the threading in the suit particularly in the head and knee area.

Overall there is a massive difference between these 2 images in quality and effects/lighting.

Hmmm...

Well, your problem isn't that there hasn't been anything to show what nextgen is then.

And I agree, that is why I am disappointed.  But maybe the PS4 version will run like utter crap in order to handle the game.

I really can't tell which image, overall, looks better. They both look great to me, equally, though I do find the blur to be annoying on my eyes on the bottom image.

This is also a response to the others that responded to me, as multiple took the same perspective. I know there are hardcore people out that look into these innovations and stay up to date, and those people notice these things easily, but most of us (myself included) just play games and don't overthink the technical aspects. I bet less than 1% of gamers even pay attention to Digital Foundry. I literally don't see anything in the bottom image that looks better, let alone significantly better, than the above image. It doesn't look bad, they both look fantastic to me. NES - PS3 graphical improvements were insane, but PS3/360 - PS5/Xbox Series X? Hardly any noticeable improvements to me, and PS4-PS5 so far looks the same to me. You can disagree, I'm not saying you have to have my opinion. But it is my opinion based on what I'm seeing with my eyes.

From what I remember he can barely tell the difference between a PS3 and PS4 game.

I can't moreso tell that difference than PS4 to PS5, but the jump from PS2 to PS3 was way bigger than the next two jumps and a lot more noticable.

That is true, and I didn`t say what I said with any ill feeling, I do remember the explanation. Even though I find it strange since even my wife that doesn`t game at all can quickly spot the differences in graphic being better, but I know it is possible that you don`t notice any significant difference (if any at all).