After some time away, I can confidently say it has high level PS3-tier graphics. It is masked by the time of day and strong environmental light sources a lot of the time, but it cannot hide behind those in Teroella. That level of quality is perfectly acceptable for an AA production. I did have more framerate hickups with the game after the update unfortunately.
I saw the new intro and while I found the cinematics splicing amateurish I did enjoy the slower accoustic rendition of House of the Rising Sun (originally by Bob Dylan) with new Alone In The Dark-themed lyrics. New game plus feels a lot more like what the game should have been to begin with due to the enemy remixing. It unfortunately comes with the worst elements of Hard mode. Stingy bullet pickups, spongy enemies, tanky as hell facehuggers, and impossible to manage spawns during final boss battle. Worst of all, the difficulty during new game plus is locked unlike it is in other difficulties. That makes the ending tied to the final boss encounter unattainable for me.
P.S. The chapter 4 ending is only for Emily so the update notes about one for Carnby are wrong (though a Chapter 4 interaction behind Wishing Tree is necessary for a secret ending of Carnby in Chapter 5).