Sure, it looks nice. It has pretty things such as stencil shadows (standard in modified engines already), bump mapping, and per-pixel lighting. And I guess that fancy eye candy on this scale, plus throwing in mentions of "Doom 3", is good since it attracts more people to the game.
However, it's extremely slow for most people, and remains lacking in other features that are practically standard in other engines. Here's hoping it catches up with other engines, which also deserve recognition after years of playing with the source, rather than becoming an overly ornate tech demo.
Not that I'm complaining, it's still nice work
