It looks great in other lighting conditions like the sunset gif i posted, but in those midday and rain comparisons, no it doesnt look great. It looks garrish and simply wrong. There is zero light bounce and stuff simply doesnt look right.
Forza had the same issue last gen. Stuff looked drab, dull and boring during day time, and whenever i pointed it out people got mad at me. Now, after their lighting improvements, it is showing just how dated Forza 7 looked last gen.
And while GT7 had better lighting than Forza 7, it was still rooted in last gen GI. Something Forza 8 has finally fixed. When GT8 comes out, it will make GT7 feel dated the same way Forza 8 is doing with Forza 7.