Yes compared to others open world games on consoles (AC, Horizon, Far Cry, RDR etc.) the alphas + particles + vegetation and their LOD system (combined with generous PC-like FOV) can be really impressive. But obviously this has a high rendering cost.
It's such a pity the environment / monster design, artstyle and lighting are so bad and even more a pity when most of those things actually don't rely that much on rendering power. Just look at what From Software can do with environment design, lighting and artstyle on a 1.8tf machine (Bloodborne, Elden ring). It's all about creative direction that is incredibly weak and disappointing from SE after the stellar FF15.
You can push this on PC later. I find the compromise they made not good at all.
EDIT: Imo this is a fail on technical side and artstyle side. When the choice made the 60 fps mode looking so bad this is a problem like it was with performance mode of HFW before patch.