Well, it seems that 3.0 looks bad because turning the graphics way down is how to bypass the watermarks.
Which shows the general level of competence at CIG. The whole idea of watermarks is that they can't be gotten rid of. All the system does now is add "poor graphics" to the list of complaints rather than discouraging leaks.
As it is - I am not concerned with bugs. End of the day - this IS a pre Alpha. Bugs are expected
That doesn't excuse the state of the game after more than six years of development - which is the real problem. CIG is spending so much time working on content rather than the core systems, they are having to redo that work. CIG have thrown out years of work because they didn't tell the teams involved about changes to the engine - such as Ilfonics FPS work. CIG are working on one system to make it work, then ripping it out and replacing it with a "better" system that will work better, examples being AI and the netcode. CIG are working on unnecessary cosmetic features such as VOIP and FOIP.
It's easy to explain why the game is progressing so slow when you realise that CIG are effectively writing it 2 or 3 three times. They added AI and replaced it with subsumption. They refined the netcode and are replacing it. They rewrote about 70% of the CryEngine and replaced it with Lumberyard. They worked on content and ships - which is no incompatible with the engine and so needs to be rewritten. And so on.
Add to that the time wasted dealing with feature creep and bloat - AND the time wasted dealing with CIGs weird developments cycle which sees them producing Beta level assets at the same time as pre-Alpha level engine work and Alpha level functionality, and the work they carried out on S42...
Its easy to see why the game is so slow to progress and why so much money has been wasted.
The trouble is, Chris Roberts has the budget for ONE game of the scale he wants.....but he's creating two, and of those two, he's affectively rewritten one of them twice already.
$160 million for the equivalent of four games...especially given the costs of other AAA games; quite a bargain when you look at it like that