It's not flawless sure but neither is Alice's. I maintain TressFX is extremely convincing in most situations from what I've seen. If I had the time I could also capture some wonky hair behavior in Alice, the point is lost on me considering one attemps to simulate hair physics while the other tries to fake it however way they can and I'd say the result is good considering the negligible cost. I understand why simulating it would prove a lot more difficult. If I had to draw a list of every tech flaws I could find TressFX would be at the very bottom of it.I agree. Alice's hair isn't plausible. However, if you turn her upside down her hair will hang. Neither here nor in TR2013 does that happen except for larger masses like the ponytail. It isn't nostalgia, I did a quick search, found the first clip to illustrate my point.
Just look at the jeep section in that clip and tell me whether or not that hair should be hanging.
I'd rather they improve texture quality and shaders over TressFX for the PC release.