Well I think you now are a bit unfair - I think UT3 looks just great. The only thing that's bad about William's shot is that the room ist empty. But hey - it's the starting zone you won't do anything else then run out of there so why waste much effort on doing lots of bling bling in there? The "real" battlezone then looks great imo:

Comparing the graphics with games like Bioshock is something you can't do. This here is a Multiplayer Shooter with 32 players running and blasting around and no singeplayer story based campaign pretty much indoors...
For me UT3 graphics are also superior than those of Quake Wars. I was a bit disappointed when seeing Mega Texture in action - from what was said I had expected more but the terrain still looked blurry when you're not flying. Also it wasn't that good performance-wise. UT3 runs incredibly smooth while giving a great visual quality. What I like very much is what you see when starting the game. The game starts ina very low LOD and then moves upwards - completely dynamic. That's just great in comparison to e.g. Quake Wars where you have heavy stuttering when respawning and I think that's one reason of UT's great performance. Although when speaking of Quake Wars' inferior graphics you also have to say that the maps I played there were a lot larger though I think due to UT3's great LOD this wouldn't be a problem THAT big...
To say the truth I also like the game better than Quake Wars. Besides the pro Strogg situation (Icarus, flying drone, siege modes, no weapon reload) Quake Wars was just the new source of ultimate bunny hopping as there is no stamina and you move and jump very fast. Especially as GDF this hopping just sucked as you don't have that much ammo in the assault rifles and keep reloading and reloading. Especially hitting those damn Icarus flying suit was a pain. All this isn't a big problem in UT3 as you just keep on firing and firing and the characters also don't move or jump that fast. This also seems to be some development into the original UT's direction as 2003 and 2004 were pretty fast...
Enjoy your meal
Toast