All looks great, but still just refinements of current engine tech.
True, but wowzers it's pretty (watch the shakey cam, the stills dont do it justice).
I'm tempted to say here that in one or two more engine revs the visuals will be "done", but I'd hate to stumble across this post when I'm playing "Doom Tournament 2013: Blueshift" and think what a fool I was.
But ya, the features that set apart the Unreal4/Doom5/Half-Life4 engines will probally be more tools, physics and AI related rather than visual quality.