Welcome to mid pc settings of 2010
Well it is un-textured, and most graphics come from...textures. And the size of the texture will improve the quality GREATLY, This is just showing a model of it, not quite what next-gen is going to look like.
I wish they had the technology/knowledge to make weapons and things work within the environment. If it's raining, make the gun drip rain and look wet. If you throw a genade in dirt, make the dirt pop up, leave a realistic sized crate where it explodes.
It's not that hard, I just don't think the current-gen systems can support it, even PC. That's A LOT of particles that's gotta go around for that. If you throw a grenade and close to it, it needs to affect your hearing and vision as well as make it motion blurry.