unbelievably cheap graphics for a UE5 Game

I’m not sure if it’s because it’s still in beta or if there weren’t any competent engineers, but I watched some early gameplay footage on YouTube, and it was terrible.
due to the awful lighting and illumination, the entire map looked like a cheap mobile game, making it hard to believe it was created with UE5. (The graphics settings were maxed out.)
gun sounds and overall enemy animations are also in a terrible state.
are they really planning to release this as a full game in March?
to me, it feels unfinished - worse than an early access title....