It only looks bad if you focus on the bad. Reminds me of when KZ2 was first shown with this picture.Probably becouse devs are hyping C2 to be the best looking game on consoles, but right now we only have GDC presentation wich don't look so great After some HD gameplay it will be clear.
Everyone said it looked like crap due to the low res of everything (something that still remains on the final game). Yet, the current view on the game is somewhat different
Seems in line with most games this gen."Few" low res textures ? I also see a disappointing level of texture filtering there btw.