Cue Lazy Devs / Horrible Ports mantra...
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Some depth is lost with the removal of ambient occlusion, while shadow detail is significantly reduced (in this respect, the Switch looks closer to the original Wii U release) but this is only really an issue when viewed close-up. Reflection quality is also pulled right back on the new Nintendo machine, to the point where the effect also compares unfavourably to the original Wii U game.
However, the reductions in quality are well handled and not overly noticeable - two more cutbacks in the visual presentation are more of an issue. Firstly, Switch has less memory onboard than its current-gen competitors, and this translates directly into some textures displayed at a lower resolution. Secondly, the developers cloud far off detail in a depth of field effect - it's a nice bokeh-like effect on PS4 and Xbox One, and this gets downgraded to more of a subtle blur on Switch. It doesn't do many favours to overall image quality, but the presentation is 'crisper' as a result with less blended detail.
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In terms of the living room experience, we'd take PS4 as our preferred way to play, very closely followed by Xbox One. Switch falls behind owing to less consistent performance as opposed to its visual downgrades - clearly it's still a good-looking title. However, the Switch game is indeed playable as a full-blown handheld experience, something the other consoles can't deliver.