The models, animations and textures are pretty bad. The models and textures I know can at least be fixed on PC since there's already mods coming out for that.people say "make a new engine" like it's something easy. the only people that make a new engine from scratch are those that don't have one in the first place. everyone else iterates their existing engine. especially a game like this that has specific needs as far as being an open world, with item persistence, and such. this engine has been specifically designed to handle their specific needs. you can't expect to throw this together with UE4 and have it work
IMO the models and animations look dated, but some of the lighting effects look pretty nice. it does use shader 3.0, tesselation, and other effects that weren't seen in previous bethesda titles
Animations I think can be updated since they were on Skyrim. It's not really that bad on PC though . At least I can run potentially run this at higher resolutions/framerate with visual mods.