Ya, but it shows what the Wii U is capable of.
In a tech demo, yes. In an environment where the console would have to render 10 times as much enemies and run actual A.I rather then scripted motion, plus hold numerous other variables dedicated purely to gameplay and have more then just one map of one interior loaded up then the situation would look dramatically different.
When you have only 2 characters to render in 1 room, you can go crazy with resources, especially if their movement is fixed. In an actual game, it's not that simple.