My bad: I never played the PS2 versions of Need for Speed but assumed the latest one was around the same level of Burnout 2 and perhaps 3. At least, some screens I've seen from the PS2 before the game launched looked quite nice (of course, bearing in mind that the NFS games on PS2 always had framerate issues, but that's besides the point).
So, to be more precise, I'm not comparing it to anything specific, but if you want some specific games, as said, I have Burnout running across the room and it wouldn't take a lot of effort to pop Burnout 3 right in there quick for cross reference. There are also some nice GT4 night-city shots available (the Paris track) which sans the flickering holds its own surprisingly well. As already said, I'm not saying that a particular instance of a current gen game looks better than what we're seeing in the above NFS pictures, but that it simply isn't "next gen" enough for my liking. In fact, the pictures above could for all I care be from a current gen Xbox gen and I wouldn't be surprised.
And no, if the PS3 games turn out to look like this, I won't refrain from thinking it could be from this generation either.