Despite speculation to the contrary, Insomniac's PS4 exclusive Spider-Man game will look just as amazing as it did in that spectacular E3 trailer. Everything we saw there was recorded in game and in real time from a non-Neo PS4 (the upcoming upgraded model with higher specs which will run games in a superior way). This was confirmed by the developers in a recent chat on social media.
The fact that it didn't take the mid-generation hardware upgrade which the Neo will provide to achieve those visuals is extremely impressive, and the mind boggles at what Spider-Man will look like there.
Beyond what we saw in the trailer, this game remains a mystery, though it's already shaping up to be the best game featuring the wall-crawler since the PS2's Spider-Man 2 (though an argument could be made that Ultimate Spider-Man was pretty damn great too). With no firm release date, we'll hopefully learn more about what Sony and Insomniac have planned for this game throughout the rest of 2016.