[higherpurpose]

I think Crytek's graphics look quite a bit better and more realistic then Unreal 4, but I don't know if the tools are just as good. Also not sure if Cryengine is competitive from a performance point of view (could be a trade-off with the better graphics).

[imaginenore]

Unreal Engine 4 is capable of producing VERY realistic environments. Check this out:

https://www.youtube.com/watch?v=Y6PQ19BEE24&t=15s

[neckro23]

If you prebake the lighting and use ridiculously high-rez textures, you can make any 3D engine look like that. Static geometry is cheap.