This is Project Cars — for a while now people have been saying it looks as real as real life. I'd say it actually looks more real.
The premise of this video "Project CARS vs Real Life - BMW @ Laguna Seca / What is Real" doesn't quite hit the mark. It's very easy to tell which side of the video is from the living, breathing, blinking world and which one is virtual. The buildings around the edges of this lap of Laguna Seca, in particular, still come across as a little fake and rendered. But details like the surfacing of the track, the way the trees stick out in your vision — these are things that even live video doesn't capture.
Something like a GoPro, (seen on the left) makes the track look flat. When you actually drive a track, so much more texture sticks out in your mind, and so many more faraway details seem to shoot into your peripheral vision. You notice these little ticks even more in Project CARS than you do in the real life video.
As our colleagues at Kotaku point out, the graphics in Project CARS are staggeringly good, but it's not that they're amazingly close to looking real; it's that they're better than real life.
It's not that the visuals in Project CARS are perfect; they're more than that.