Yeah, some of the games really aren't THAT bad looking, at least relative to other options here. And honestly I think beyond those "this seems sort of PS2-ish" moments the game looks just fine.
Although, there's another good candidate for a really bad looking game and just an awful game period: Hour of Victory. I played the demo years ago, and I recall the textures just not looking right. And it was just another cookie cutter shooter, but not really executed very well at all.