well considering they have a solid release date and are now being backed by Sony it can be considered a credible claim. No instancing, seamless and multiplayer, looks great! and everything procedural including the species...
No Man's Sky Developer Commentary - E3 2014
http://www.ign.com/videos/2014/06/10/no-mans-sky-developer-commentary-e3-2014
really interesting as they fly from one planets surface to another
Space engine also has planetary landing (free download btw)
http://en.spaceengine.org/
and insain indie planetary landing stuff with deformable terrain....
http://www.outerra.com/wfeatures.html
(also demo on site)
Features Summary
•Realistically looking terrain with high detail
•Unlimited visibility, detail ranging from thousands of kilometers down to centimeters
•Real time atmospheric rendering
•Rendering of vast dense forests and grass
•Seamless transition from space down to the planet surface
•Adaptive LOD with continuous transitions. Elevation data are preprocessed using special wavelet compression, the required level of detail is extracted effectively on the fly
•Partitioned compressed dataset can be downloaded progressively over the web
•Fractal refinement mimicking the natural processes (erosion, rocks, overhangs)
•Procedural texture generator combining mathematical models and climatic data
•Bitmap overlays for specific areas
•Vector data - roads, rivers, land class polygons
•Uses OpenGL 3.3
•Dynamic shadows
•Fully asynchronous multi-threaded design able to utilize all available CPU cores
•Terrain and fractal algorithms runing completely on the GPU
•Stable frame rate system
•Supports arbitrary and varying resolution of elevation datasets, refined to centimeter resolution by fractal algorithms
•Embedded web browser allowing for direct web service integration
•Supports COLLADA 3D model file format
•Integrates a Flight Dynamics Model library for high fidelity simulation of aircraft, rockets
•Global physics engine for simulation of vehicle physics and collision detection
so the technology is not an issue