As a relative newcomer, I never flew with the early builds, so can’t make a comparison with them, but this is what I’m seeing on my PC with v1.37.11.0. Not the nuclear wasteland that the OP posted above, but some of the high-rises & especially the cranes look pretty bad if you fly too close to them. Nothing to do with this build, of course.
The sim was pulling down around 50 Mbps during the flight over the city:
Then there are the trees. Here we are in Regent’s park. I’m not sure if these are supposed to be trees, or actual sculptures commissioned by the City of London Arts Department. You never know these days… 
Partial Specs & settings:
Build: SU15B v1.37.11.0
3rd-Party Addons: None, Community Addons: None
Flight configuration: Multiplayer: All Players. Traffic: Live, Weather: Preset Clear Skies
i7-12700K (No overclocking), 32 GB 5200 MHz DDR5 CL40, Arc 770 (16GB, v31.0.101.5333).
Graphics Tab: TAA, Render resolution 1700x960 @ 125, AMD Fidelity - 150, VSync - On, FRL - 100% MRR (60 Hz), HDR10 - Off, DX12B, TLOD @ 250, OLD @ 200, Motion Blur - Off, Other settings - all Ultra
Traffic Tab: Aircraft Traffic Type - Real-Time Online, Slider Settings - All 100%, Generics (AI, MP) - Both Off, Show MP in Vicinity - On, Traffic Variety - Ultra
Data Tab: Data Connection: All six options - On, Data Limit - Off, Bandwidth - Unlimited, Rolling Cache - Off
Developers Tab: Developer Mode - Off
MSFS Version: MS-Store, Standard, plus All WUs