Honestly do graphics really mean that much? I've played the demo and the graphics looked fine to me. Then again I don't place much stock in graphics, gameplay and story is all that matters to me.
I played the demo by myself last night and actually enjoyed it. Nothing really special about the game outside of the fuse abilities guns have (the asian looking chicks gun is pretty fun, put enough rounds into an enemy and it creates a blackhole. Tag a bunch of enemies with it and you'll start a blackhole chain reaction, tis quite amusing), which make things rather interesting. It's basically your typical third person shooter with cover based tactics. I can only assume it's a lot more fun with more people because the AI for your companions is pretty lackluster.