It doesn't look downgraded to me at all, we just saw more gameplay instead of scripted events, it was also very poor quality at the beginning so that didn't help. The open areas looks just as beautiful, weather and lighting change so you can't have an exact 1-1 comparison as the first trailer. It's nothing like that Witcher 3 issue, they actually changed how the game rendered and that's what caused the issues, they thought it looked better that way.
My one nitpick is the way the characters react when getting hit with an arrow, I don't mind flying back but at least make the animation accurate to where the arrow hit, he was aiming at the side of the guys head and suddenly he flew backwards facing the camera lol.