Apparently this is either CG or rendered in realtime on UE5 in a 25 GB demo on the PS5 and XSX. We should find out in a couple of days.
But let's assume it isnt CG, but a pre-endered inengine footage like the Hellblade 2 demo a couple of years back. That's a massive leap over what we saw in Cyberpunk last year.
Highly doubtful 10-12 tflops consoles can render this in realtime with all the game logic and open worlds to render, but what's clear is that we are nowhere near maxing out graphics on consoles. There is a lot of room for improvement and maybe it takes 50 tflops consoles to get us there, but hopefully seeing this will stop people from judging next gen potential based solely on cross gen visuals. Diminishing returns might be a real concept, but it wont apply until we get character models that look like that.
P.S This is what Quantic Dream was able to do with only 1.8 tflops. I think a semi-interactive game like Detroit can render something close to that Keanu Reeves model.