For me it's both impressive and at the same time unimpressive graphically. For an open world game, especially at this scale, I'm incredibly impressed. OTOH - there's some things that I kind of take for granted in many modern AAA games, like footprints in the ground which were missing when the robot left the ship. The environments looked fantastic but some of them have a sort of older Bethesda open world game feel to them while others felt fresher and more inspired. Some NPC animations looked fine while others seemed oddly stilted.
Perhaps a better description of how the graphics struck me was uneven. That might give some the impression that the graphics are dated/not good, but I think it speaks more to the massive nature of the game. Some of the handcrafted areas are going to look less polished than others just due to the sheer amount of effort required by the artists and set piece designers.
But that said, over all I thought it looked like a good current gen. game of this magnitude. The only other game that is in the same league as this WRT world/universe size and scale is No Man's Sky and it's obviously quite significantly better than that.
So, yeah if someone really wanted to nitpick, they can probably find examples of something looking barely better than last gen. But if one were to be fair, most of it is a pretty large upgrade over last gen, IMO. Is it Cyberpunk 2077 or Horizon Forbidden West levels of graphical greatness? No, but it's also doing a LOT more than either Cyberpunk 2077 or Horizon Forbidden West.
Regards,
SB