it depends on what they mean when they say 35% though. They could mean the tracks they showed were completely finished and that is how they will look and that they are currently building more tracks. Or that even the tracks that were shown weren't even built fully yet and can look so much better
I wasn't all too convinced by what I've seen. The lighting looked good. Trees looked good being proper 3D trees unlike Gran Turismo's 2D picture of trees stuck together. The sea in the background look like it needed seem work. water didn't look very next gen-ish. But overall gameplay looked like it could be fun.