This is a new demo for 3DMark 11, the latest version of the venerable PC graphics benchmarking tool. It's basically showing what a PC game running DirectX 11 at full settings would look like. In your dreams.
Futuremark, the creators of the tool, say the demo makes use of all the latest bells and whistles available to PC developers, including tessellation, compute shaders and multi-threading.
Which is all well and good for technophiles, but for me, I just like how pretty it looks. Especially the lighting, which looks so warm and inviting that I'd put a spoonful of it in my tea before bedtime.
Practically nobody at a consumer level will get these kind of results today, of course, but a demo like this does give you a good taste of where things will be in, say, 12-24 months time.
It's the second demo we've seen from Futuremark over the past few months; to check out the underwater clip, head over here.