I wouldn't say horrible but it sure looks bad. The surfaces are overly white on metal surfaces looking ankward like if there was a 300w lightbulb litting it. The artowrk is what makes msot of the detail and then it has normal mapping maybe specular or a cubemap for fake reflections like most other games do.
It may be the dynamic lighting. If you look at some KZ2 trailers, you'll notice that light and the lens flare effect play with the gun also (or rather your view point). The smoke, sand, and dust also obscure your view (of the gun parts) and gun sight on-the-fly, which makes me feel like I'm in an outdoor environment. The weight of the weapon is conveyed via the controls and elaborate animation. The consequences of using the guns (i.e., the death animations) are gracefully done. That's why KZ2 atmosphere and weapons are amazing.
Comparing KZ2 shots may be tricky because of these factors. There are other effects like DOF that blur the look selectively too. Like the image Silent_Buddha call out before.
We'll never be able to experience the real KZ2 (weapon) feel just by staring at a static screen. So much info is lost or misinterpreted. It's like the story of a few blind men trying to figure out what an elephant is by holding on to its different parts. If a blind man holds its ears or trunk, he will have a different, limited view of the elephant.