You want LIDAR for making the point clouds, and a camera for colorizing them. Pure photogrammetry is doable (I think that's what Earthmine did for a while?), but it isn't as pretty or accurate.
For single-point-of-view, yes. Otherwise, if you can take images from multiple viewpoints, there are a bunch of solutions for pure photogrammetry, eg. Pix4d, Photoscan, Capturing Reality.
Theoretically, there is enough data in the images to build photorealistic models. Algorithmically, we aren't quite there yet.
Theoretically, there is enough data in the images to build photorealistic models. Algorithmically, we aren't quite there yet.