I personally thought the planetary tech in the Alpha was more impressive. Don't know what happened between now and then.
At this point it's generous to say we're playing a Beta, maybe this was the plan all along, to have PC beta for the Console, lol.
As for DX12/Vulkan, it would be nice, but to actually utilize the new API, entire segments of the engine and renderer need to be rewritten from the ground up. And Vulkan in particular is very "Hands off" when it comes to things like Vram allocation, it leaves that kind of stuff in the hands of the developers, which is very powerful, but also very dangerous. With nobody (I think?) left from the Cobra team at FD, there's almost certainly neither the will nor the resources to bring Cobra into a modern API, even less so for a game that probably blew its one chance at a breakout success with this launch.