Those dirt-like texture either are poor to begin with or they don't translate well on compressed video. Here it is on ps4. https://youtu.be/T2gVnL6mgKA?t=5m20s (you can totally pass this as a game running on Vita btw)
It seems more like a good port of a not so good looking game, but the india part looks good enough for me.
Not beautiful but good enough for me. Framerate seems to be stable.
I think this falls into the 'better' camp of UE3 games on Vita:
Looks bad/runs good - MK9; Injustice; AC Chronicles
Looks good/runs bad - Borderlands
I'd rather have the former than the latter.
Honestly i think that MK9 looked good, close ups apart on the small screen downgrades were a lot less noticeable.