I don't think the graphics are bad, but they aren't wonderful either. And no matter what people say, good graphics do enhance the experience of playing the game. A games does not *need* good graphics to be a success, but it certainly has better chances with them. So it's perfectly fine to hope for the best looking stuff.
That said, I believe what we see in screenshots is what it will be in the actual game, probably at the highest settings as well. I don't see a reason for them to release screenshots with outdated graphics so close to the release. I'm fine with how it is though, it certainly doesn't hurt my eyes and I'd say some parts of it look incredible. My main complaint is that it doesn't seem very consistent, meaning that some things definitely don't look as good as others.
