Can next-gen games look like this?

Smoke from Mortal Kombat

Mortal Kombat, the brutal action game that was released for PS3 and Xbox 360 last year was critically and commercially successful, and while it pushed the bar when it comes to gore and brutal executions, imagine such a realistic looking fighter going to town on somebody. This will truly be the jump that one would expect next gen, but it’s a little hard to accomplish due to the insane amount of polygons you can see in this model. Source: http://www.zbrushcentral.com/showthread.php?81039-Mortal-Kombat-Smoke