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Meaning this is game uses true HD assets and not merely upscaling.
I'll believe it until proven otherwise as Nintendo has a history of quality and excellence when it comes to making games.
I'm wondering if the final game will look any different from the videos we've seen, because based on the videos, it looks like the did redo some models (they look really shiny now, which is kind of weird), but for the most part they just upscaled and used a crazy lighting system to gloss everything over.