I've seen that presentation...many times...and followed Outterra (and any other planetary PG engine) for a long time. This kind of stuff is my "fetish".
Yes, Outterra does some really nice things up close and I'm playing around with it every now and then. My comment above wasn't about Outterra though.
As been mentioned several times before though....Outterra does not generate the planet in itself. It uses real world height maps and then adds procedural details on top of that. That has been their main focus for years so of course that looks better. I'm sure we'll get things like horizontal displacement eventually as development progresses on ED. The ED devs even briefly mentioned wanting to use up close displacement when they get around to it in their Twitchstream about the planetary tech...
I do think people often get "fooled" by atmospheric scattering and "atmospheric depth" when comparing to Horizions simply because our brains automatically defines green and "Earthlike" as beautiful. Try turning off atmospheric scattering and clouds in Outterra and you'll see what I mean. This is an example of me trying to replicate the ED look...I could have made far worse screenshots.
http://i.imgur.com/eNGsuKb.png
Still very nice with the horizontal displacement and the procedural rocks...but the difference isn't really that big.
The difference is pretty insane tbh, that screenshot looks incredible. The rocks look joined to the surface and the random outcroppings of rock look fitting. It's certainly a great deal better than ED's tech... but then Outerra doesn't have a galaxy nor spaceships nor space combat or multiplayer modes. If ED devs focused entirely on planetary rendering I'm confident they wouldn't have any trouble reaching this level of fidelity - however whether or not it could run well once you add all the other components in is questionable.