For high end photorealistic vegetation, masked materials are needed still even with Nanite.
But Masked Materials have a big performance impact with Nanite.
In Fortnite, this was solved by just not using Masked Materials and accepting that leaves will not be fully round and some details are lost. That is acceptable for a stylized/cartoon game like Fortnite.
For photorealistic usecases, Masked Materials will continue to be needed.
It would be great to be able to switch to a non-masked material in the distance, thus saving A LOT of performance and making forests with nanite much more feasible on large scales.
Since Nanite deprecates LOD, there is no easy way anymore to switch to a lower cost material in the distance. The only option would be BluePrints, which is not performant nor scalable.