I think we're finally going to have more realistic exploration of worlds. By that I mean insides of buildings, no more fake doors, bushes, rock rumbles and all the tricks devs use to hide inefficiency of HDDs. It's partially due to resource limitations (you have to design all those levels) but I think asset repetition and, maybe, AI used for generating levels might help with that. I'd prefer a randomly generated room behind a working door than simply a locked door which the character decides not to open and, instead, goes through a tight vent or fights tens of enemies to get through. It broke a lot of immersion in TLOU2 for me and I was even wondering why, because locked doors and impassable bushes had been in gaming since the beginning. Then I realized that the more realistic the game looks, the more it's going to stick out.
Maybe Lockhart isn't a "small brother" of XSX but a new gaming-focused Surface? I'm purely speculating here, no sources to show (hello mods

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A horror third-person game doesn't need 60 FPS, 30 will do fine. Apart from that, Bloober is a small dev and their previous games are rather low-tier. However, this time round they're using Platige Image to produce visuals. Platige studio has a ton of experience both in film (CGI for the Witcher series, for example) and gaming (again, trailers for many games including Witcher or even Halo). I know devs who praised cooperation with them as very satisfactory.