I do wonder whether somebody at Frontier is spending all day trying to tweak and balance properties on the new materials... -Everything in the game appears much more shiny - specular and reflective, than it used to, including things like mists and smokes, and the look of things can change wildly as one look/move around, and angular relationships between object, observer, light sources, and environment change.
Thing is... I seem to recall FDev answered: "Yes", when somebody asked back in Kickstarter days whether Elite: Dangerous would be using Physically Based Rendering, so... Did it? Did we already have PBR shaders and materials since the get-go, in base game and Horizons, or have they up until now been of a more... "traditional" kind, and now being replaced across the board?
(EDIT: I must say it looks to me like much more kind of looks like deferred rendering than before. I seem to recall there was talk about there (previously) having been a mix of deferred and forward, and things like ground surfaces certainly have gained a lot of aliasing, more than might be explained by their having become shinier, and more detailed...)