It's very impressive, but this is the issue with all of these "X looks better than Y" tech debates. Art and presentation versus mathematical engine technology. The former is subjective and open to lengthy, involved discourse on artistic values and techniques. It's a complicated issue because art is hard to define and debate as well as highly diverse and subjective. Technology, on the other hand, is far less so. It has little to do with the subjective impressions of art and more the objective math behind the project, which does have a bearing on the look of a game but does not define art and presentation.
When discussing technology we're talking about sampling rates of reflections, anti-aliasing algorithms, complexity of tessellation and displacement maps, texture/shadow resolution, physic simulations, etc etc. There's real, objective math and technical methods here that don't guaranty a game looks good, but can define it as an extremely demanding and impressive game on a purely rendering technical level. It could be the ugliest game in existence and still have the most advanced water, lighting, shadows, physics, and everything else of all games that have ever been.
I think that's what catches people up when discussing Crysis 3 versus your crop of Guerrilla and Naughty Dog games and their technology. If we're just going to pick the tech that impresses us the most as individuals, then we're not really discussing tech so much as art. EG: I think Super Mario Galaxy "looks" better than Crysis 3, because I like the artistic vision and presentation a fuckton more. I think Shadow Fall looks better too, and Uncharted 2 has some of the most gorgeous environments of the generation gone. But in the same breath as saying "I don't like Crysis 3's art", I can also recognise it has some of the most advanced real time rendering technology ever implemented in a gaming engine. EG: The grass simulation shits all over every other game on the market, at least what I know of. There's absolutely nothing like it in Super Mario Galaxy, Uncharted 2, or Shadow Fall. Not really a question of whether or not these games could have this technology, but the simple fact they don't.
And that's why I lean towards Crysis 3 still being the most advanced tech out there. Granted, I don't know near enough about Shadow Fall's tech than I'd like, but outside of the real time dust simulation not much impressed me in the sense of being ground breaking technology that doesn't already exist and in some cases exceeded. Even if, again, Shadow Fall is to me the better looking game.