I don't find this too different from Episode Duscae outside of the bloomy look ED went for.
I think the skin shaders still look a bit more impressive compared to Witcher's characters, even though in some lighting/shadowing conditions it does look downgraded from before.
And all of this downgrade sadness got me looking at other games I haven't played in a while. I think Driveclub, ignore it being a non-open world game (it renders a very vast landscape though), pretty much has the similar tech features and issues. Both XV and DC strive for photorealism by utilizing some mass pseudo-GI tech with dynamic time of day and a robust weather system and volume clouds that changes the atmosphere and general look across the environment. It's a very pretty game but it can suffer from looking like a last gen game too. Several of the environment textures and IQ suffers massively, mid day lighting just generally does not look good despite the lighting system doing great work at other times of day. And this is a first party game.
Duscae landscape xbone screencap in comparison
Need the final game with whatever graphical touches for direct-feed captures to make any more comparison but I don't think it'll be too far off from Witcher 3, which can look very rough on console too.
Novigrad also got a notable downgrade from the its initial reveal too. Didn't they pretty much have to re-do all of their rendering and lighting since it was too taxing?
I wouldn't be so quick to blame Luminous troubles considering what also happened here. Seems a lot of devs overshot their target, except the XV devs are only now finding out the consoles can't handle it because for whatever reason they decided to not make the PS4 the lead platform despite there being no PC version right now. :\