Hello, that is mostly correct. There is major note that must be made though: It was not pre-rendered, it was rendered in real-time. That is basically representative of what you could get with in-game graphics using UE4 and the Titan. I think of the Kite demo as a look into the near future of what graphics could be like in-game.
EDIT: are more technical details: /b/632598238 Skip to 45 mins in.