Indeed. Inevitably though, people will want to stretch the game engine - and once it's out on platforms like Steam, you'll probably see mods made by unaffiliated gamers for 4K textures and super-reflections/refractions and stuff like that. That's why I used Elder Scrolls: Skyrim as an example - aesthetically, that 2011 game still has good vanilla graphics even by our modern standards - but websites like Nexus and Steam Workshop are full of HD mods and photorealistic or surrealist ENB presets. I'm pretty sure SE will be the same.
But yes, the new graphic settings in 0990 are awesome and I look forward to tweaking them for glorious screenshots and psychedelic space journeys