This is not even close to next gen. Maybe some of the animation will hold up to next gen games, probably for some time to come, but this is a very good current gen game.
If this game was on next gen, then things like the buildings and landscape in the distance would be blowing your mind (as in KZ:SF) but here, it's like... okay, pretty cool but yeah.
It's pretty astounding for current gen, though, imo... especially when you take all the elements together. They have a limited resource budget, and they are spending it masterfully. AI costs. As you can see in Dark Souls Blighttown where AI path-finding brought that section of the game to its knees. Animation costs. As you can see in ME3 where Shepard can no longer holster a weapon due to lack of memory. Joel's amazing flashlight costs. Trish and Ellie's animated hair, costs. Look at the hit games take that try to do hair... Tomb Raider cut many people's fps in half. Now, TLoU isn't doing that kind of simulation, but it's still doing something - some compromise that will get decent results without crippling anything else. When you consider all the factors (many more than I have mentioned) and the balancing act ND is doing to maintain a consistent tone/feel... and btw... rock solid framerate, its pretty damn impressive. Even if you don't necessarily like the game, would be difficult to deny it's impressive.