I feel like I'm missing something. Yotei is a clear graphical step over Tsushima:
Is it some huge, jaw dropping step up? No, but what recent sequel has been? The only one that even comes to mind is Death Stranding 2? I never dug into comparisons, but I did hear people say that game looked amazing.
This seems like noticeable improvements for a studio that had the same budget and project timeline. Whether the game will be any good or not, I make no bets. But it looks like it will be pleasant to look at. I'll check it out on Steam when it eventually gets there.