What is going on in this thre... oh fuck, people.
Seriously. Characters what you see are wearing default armors and weapons they will look nothing like that in game after few hours of playing.
Also they are going for more realistic approach meaning most of your posted concept art will not work in this game meaning most of common things you can get are bland armors normal looking swords etc just like in BG or IW. Special weapons armors that are uncommon will look way different.
Also Obsidian creates PE expecting what Obsidian does the best meaning story world choices and here we are we are complaining about first batch of concept art.
Arcanum didn't either have good art moreover it was even worse than that what we already saw and yet it was awesome game. And yet Arcanum was living and it was awesome in short hours that art lived meaning it grew on you.
What if this dude who look like aragorn is actually very very very evil dude who behaves more like thief than paladin ? What if this steel plate woman is actually very delicate and well behaved ? If we look at torment art we couldn't know how characters would behave. Swearing skull ? or Letho from witcher ? He looks like butcher but in reality he is highly intelligent and very logical.
Art should not look only good but also fit a role even if this role is to miss direct player. And from what i saw art is good. It is we saw it in form of dwarf girl and mage woman with black/white hair.