You're absolutely right. But -I know it has been posted here before, just can't find the link to it- there's this one engine by this Russian (or Slavian at least) guy that is proceduraly generated and that looks quite stunning. Not at all like No man's sky, which, I agree, doesn't look realistic at all. Way too.. I don't know, cartoon-like for lack of a better word.
You mean Outerra, its a sort of hybrid PG system, using height data mixed with fractal algorithms, although I think it can generate full landscapes with just procedurals. I expect something a little better mixed with quality FSX
[video=youtube;iNgWwvSaTZ0]https://www.youtube.com/watch?v=iNgWwvSaTZ0[/video]
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