Hellblade 2 is the real deal. The game looks like the UE5 Rebirth trailer. All those rocks and pebbles look to be lifted straight from those quixel trailers. The big ones dont look as sharp but everything on the ground looks photorealistic. There are so many different kinds of rock types and they all have perfect light bounce, AO, and even reflections in some cases.
The lighting is like a gen ahead of games like plague's tale. You can see where the budget went. Callisto looks amazing but still has that gamey look while this is going for photorealism and it gets there more often than not. I love this blue-ish look that is completely removed in the night time sections where everything is lit with lightning and fire torches. the amazing GI mixes in with the fog and volumetric lighting does the rest.
speaking of fog, best use of fog ever. they dont use it to mask the draw distance which is pretty impressive in chapter 2. but the volumetric lighting here is like a gen ahead of even something like alan wake 2. the fog feels thick, it doesnt feel fake like its there to mask draw distance and the way it lights up is very impressive.
the only thing id nitpick on is the character models which look next gen at times and then fairly last gen when the camera isnt right up to their faces. when you have two character models on screen at once, they look ok at best.
Anyway, this is another one of those games that you really have to play on your tv to fully appreciate. so many details are lost in youtube compression and even gifs. the dynamic nature of its lighting also doesnt come across in screenshots. right now, after around 2 hours, id rate it above alan wake 2 and callisto. avatar is a different kind of game so kind of an unfair comparison to either game, but this game is basically what ive been waiting for since i saw the unreal engine 4 rebirth demo all those years ago.
P.S Water is phenomenal too. the game's visuals are extremely consistent in a generation where every single game has been extremely inconsistent. this is next gen like 99.9% of the time.