The graphics were never going to be super amazing. There's only so much they could do with a PSP base and the amount of budget and time they were given.
I kept getting Drakengard 3/Dirge of Cerberus/The 3rd Birthday vibes because of the graphics. S-E's mid-tier budget titles all have the same feel for some reason, and I can't quite put my finger on what it is.
Not that it actually bothered me, I had a blast with this game. Superb art direction + Orchestrated soundtrack > Quality of graphics, anytime for me.