Nothing does this generation, if I'm being honest.
I agree. Problem is on PC, we've been spoiled.
Personally speaking, demos on PC like the StarWars Ray Tracing Reflection demo, Marbles demo, and RTX Racer demo are all spoilers for what next gen graphics should be as an overall package.
Then we have actual games with specific next gen features, for reflections we have games like Control, Watch Dogs Legion, Marvel's Guardian Of The Galaxy, Ratchet and Clank Rift Apart and Wolfenstein Youngblood that did ray traced reflections solidly. For shadows we have games like Shadow of Tomb Raider and Call of Duty Black Ops Cold War which did ray traced shadows well. For Global Illumination we have games like Metro Exodus, Icarus, Fortnite, Warhammer 40K: Darktide, Dying Light 2 and The Witcher 3 that did dynamic lighting excellently. There is none of that in Starfield.
Then we have games that delivered the total dynamic package (shadows + reflections + global illumination), like LEGO Builder's Journey, The Witcher 3, Cyberpunk 2077, Bright Memory Infinite and even Dying Light 2.
Then we have Path Traced games, that delivered everything except next gen geometry, like Cyberpunk 2077, Minecraft RTX, Portal RTX. We even have DESORDRE that combines path tracing with next gen Geometry (Nanite).
Obviously Starfield has none of that.
For next gen geometry we have many UE5 demos, we have the Total Package for it all in the form of the Matrix UE5 demo. Which embodies the meaning of unlimited details and extended level of detail with good dyanmic global illumination and reflections. And Starfield lacks all of that.
Starfield doesn't even have the complex rendering of materials or animations that some games excelled at (like the Last of Us Part 1), and it lacks complex world simulations (weather, fluids, clothes, physics, AI).
So in summary, Starfields lacks next gen shadows, global illumination, lighting, reflections (reflections are even worse than last gen), complex materials, and simulations. It's graphics is inconsistent in the vast majority of areas, Why is it even considered a candidate for a next gen title?