Um, no, it's not just as good looking. At least not in pure technical terms.
The only people I've ever heard try and argue that Ryse competes with Killzone: Shadow Fall are Xbox fans. You may prefer the art style of Ryse, but that's a completely subjective argument. What we REALLY want to compare is the objective technical metrics: polygon counts per frame, texture resolution, texture variety, shader complexity, lighting, and scale of the maps. Oh, and screen resolution, also. Killzone: Shadow Fall, at 1080p, seems to trump Ryse (900p) on a purely technical level, and it does so with larger-scale maps, and more complex enemy AI.
Again, we're not arguing what "looks better" artistically, because that's a subjective argument. But it's only logical that Killzone: Shadow Fall would handily beat Ryse in terms of pure technical visual fidelity, since it's already a known fact that the PS4 is a significantly more powerful machine than the Xbox One.