MS is wrong for shooting for native resolution and 60fps (or even insane 120fps) on consoles. Console gamers dont really know the difference, while visuals sell the games on the other hand. You have bunch of people demanding 60fps, and when you put 60fps game out, they say it looks worse then 30fps ones. Bizzare, and tells you they should never aim for 60fps and native 4k. 2k checkerboard + 30fps with low latency and we are hitting CGI levels.
Native 4k is a mistake. 60fps is not. But to be brutally honest, this game looks like it should be running at 120fps on a 12 TFLOP next-gen GPU. It looks like a non-remastered backwards compatibility title.
Halo 5 on One X looks nicer to me, though it's much more limited in the scope of the level design. The thing is, the Series X has at a minimum twice the GPU power, and a massively better CPU, as well as more RAM with more bandwidth. It has all kinds of other efficiencies built in that should allow it to punch above the raw numbers compared to One X. This reveal of Halo Infinite does not live up to that.
I can understand if covid19 has had a big impact on development. That's the most favourable reason I can come up with to explain how this launch title from their biggest franchise (the only triple AAA first-party game they showed gameplay for) looks so crappy. Honestly, if that's the story, then wait to show the gameplay. I know they didn't have other games to show, and they're probably in a worse state, but cancel the event and hold it in late August or September if you think you can show better then. Or put a disclaimer on the video that says, "Early game footage - unfinished" or something. If this is how it looks when it launches, my guess is it's a desperation release to have something at launch, and it's being pushed out early, which is exactly what Phil Spencer said they wouldn't do. He's talked a lot about being flexible with studios so they don't feel like they have to release x games a year, and giving them time to get things right.