What is most amazing to me is that they found a new(ish) way to render. The tech was out there in theories and bits and pieces, and indeed, point cloud rendering has been around for a while, but no one has really used it. Just that they can increase the Jitter to make a nigh-on flawless Depth of field is awesome. The shadowing and volumetrics are also top notch. It looks unlike anything I've seen, and it's real-time! being stylized you can get away with a lot more. I can't wait to see how they handle rigging for animation.
Imagine if they are incorporating the PS move controllers! This is the coolest thing I've seen in a decade.