First video actually looks like crap. Ray tracing doesn't enhance it and instead highlights everything that hasn't been done yet.
Some terrain and textures are not there yet too and need to be improved too. The bridge in the beggining with a light in the middle, Chain Chomp area and the area with the 2 balls rolling around on a loop are the worst offenders.
Second one was looking good until they showed Bowser, I swear it has looked better on some render96 model revision a few months ago. They never nailed it 100% though.
The low poly mode looks bad.
That said, Render96 sure is awesome.
I absolutely despise the "render 64" models, plain awful....
Me too

they should deprecate those, they don't look like N64 models due to the skinning used, but they don't look like anything past Dreamcast/PSP either. Kill them with fire I say.
Low Poly Bowser looks like a mix between angry birds and a Conker's Bad Fur Day version, but underdeveloped.