Square Enix just showed off this footage in Paris. It looks impressive. As you can see in the clip, via YouTube user Mika IIM, the demo shows off some of the game engine's fancy tech.
As soon as it starts going, that dude's head gets out of the way. Somewhat. You'll be happy to know he doesn't get into the way of Final Fantasy character pores.
Update: Now minus that dude's head!
Demo technique Final Fantasy XV [Mika IIM Thanks, imrandaredevil!]