How is having the option for the game to look even better something bad? Can the game look better? Based on the tech demos it can. So why not give the option? Not my problem you get upset you can't "max" the game on your rig - nobody would force you not to run the game at let's say DX9 "extreme". The game would look as it does now. But people having better hardware or playing at lower resolutions could run the game at DX11 "ultra extreme" or something...
I don't understand how can people approve of Crytek not making the game look as good as it could have been. Nobody is forcing anyone to max the game, why not give the option to use higher settings if Cryengine 3 allows it? Your "extreme" mode, what you get right now, would look the same still...
It's not so much actively approving as not getting completely hysterical about it like so many people have been doing. But lets no forget all the criticism that the original Crysis garnered due to the high system requirements.
When developers aim high the games don't usually scale back all that well so the current 'extreme' mode might not run as well as it does now.