I can make better graphics than this! lol
There is no need for a cartoony look or "Stylized" look what-so-ever!
I can understand if they need to keep things like Real-time Shadows and HDR lighting out of the render for perfomance of an MMO, but there is no reason they can't use more realistic lighting otherwise. It looks like they greatly improved on some of the on-planet surface rendering (more realistic) but the space scenes look too cartoony and just... bad.
I hope they don't go with that style, and if they do, I hope they leave the shaders open-end like Legacy so I can fix this "stylized" look.
They should aim for this look ;)