Why does everyone care so much about minor things in a game not even being released yet. I agree it does not look good and is not any better than the waterfalls in Morrowind, but Dragonborn1 really has a point saying that they surely have noticed it looks bad or they have good reasons for using it here, if only being a placeholder.
Yes they probably have noticed it looks bad (alternatively that it can look better).
But for me the big questionmark is then why Bethesda gave us this big closeup shot of the rapids in the trailer. Didn't they notice it before? Do they think it looks great and shouldn't be improved?
To kind of answer that question myself, they probably put the waterfall scene in the trailer to show us the kind of landscape that is in Skyrim, which is really really great (I've always wanted big rapids!
). But at the same time, if I were Bethesda, I wouldn't have shown it due to how it looks, whether it's a placeholder or not.
So, the questionmark is still present for me.