As I have mentioned before I am no graphic expert so I can't discuss the technical side of the that issue. I can use my eyes however and comment on what I see and from what I have seen with the new screenshots and the short preview is not really what I would consider a downgrade but more a change in aesthetics, color theme and psychics (less things moving or reacting).
For me and this is purely personal, because I realize fully others properly feel differently, it makes the game feel more mainstream and less "mature". It doesn't for me have that deep, griddy, dirty, dusty and dark medieval atmosphere from the earlier trailers and it seems a bit more "lifeless".
However I remain positive as when it comes to it all I have good screen/TV which I can change the color to better sooth me and to give the game a more mature look from the earlier trailers. Also I do believe I have read several places on here that many things are not yet turned on so I remain hopeful that those are things that made the game seem more "alive" like hairworks, dust in the air, wind in the clothes and so on.
All in all I am very positive with these new screens and preview. All that really sours my graps are the fact that the game is still four moths away. I hate that!