I didn't know about this project, so thanks for the link!
The graphics look good, but nothing revolutionary that other games haven't already done. However, given that the demo is pre-development, it looks good! This will be a good one to keep an eye on every now and again as development progresses!
Of course, it's not uncommon for games to claim to be fantastic (graphically or otherwise) way too early... remember the hype around the graphics of Two Worlds 2 a few years before it came out?