I don't know. I mean I don't think a boss needs to be the size of Cronos to be a visually spectacular fight. I think the impact that a sense of scale has on spectacle bottoms out after they are 'big enough'. So I don't know if the game will feature the likes of Cronos, but if it doesn't I doubt that's because Santa Monica didn't feel they could achieve it with the new camera.
Although the God of War Cronos fight isn't done in one cut, there transitions between a close and far camera are performed without a cut. The camera simply pans away from Kratos, or Kratos moves away from the camera. In one instance he is falling, and the camera just remains static, with him becoming more distant.
From a gameplay perspective this makes the most sense, because you cannot just cut to a new camera where Kratos only features as a tiny character, and a expect the player to be well orientated within that scene. By pulling the camera away from Kratos (or vice versa) you create a sense of scale while allowing the player to retain their orientation within the scene.
In this regard, the lack of cuts is not a hindrance on creating these kind of cinematic moments as seen in the Cronos boss fight. Quite the opposite in fact, they actually facilitate adaptive sense of scale within a gameplay environment quite nicely.
Here's the clip from the example I talked about
https://www.youtube.com/watch?v=ki-Nj6WRtw4&feature=youtu.be&t=1m30s
The cinematic cuts at the start do add to the sense of scale (before that point I linked) but these coul also be achieved by pulling the camera away. If anything I think the moments that have the largest impact on the sense of scale are when the camera pulls away from Kratos fighting, like this one:
https://www.youtube.com/watch?v=ki-Nj6WRtw4&feature=youtu.be&t=2m07s