I honestly think it's more of people running home with what ND said than anything they actually said.The argument is about the standards set (by other games or ND themselves with that original video).
The game on its own looks great already.
http://www.naughtydog.com/site/post/uncharted_4_a_thiefs_end_2014_e3_trailer/
All footage you see in the trailer was captured completely in engine. Thats Nathan Drake rendered in 1080p full glory using the power of our PS4 engine. All footage you see in the trailer was captured completely in engine. Were targeting 60fps for Uncharted 4: A Thiefs End and as you can see the visual fidelity for our character models will reach new heights.
We've known what this language has meant for every uncharted game previously. We know what it means for every developer that says this about a trailer for every other game. But now its some highly convenient amnesia and "downgrade-a-tons" ?