True but the compression is excellent and given its currently so low any improvements to available bandwidth have a disproportionately high impact on the perceived quality you can achieve.
It simply will not rival a displayport connection in technical terms no, and I would wager there will still be some artefacting in certain situations, loss of detail etc but it will be a substantial improvement and it already generally looks good. For most it will probably appear to be largely similar. Note we are talking about future here as currently there is no change to the link limitations until next year I believe.
Think of it like watching 4k netflix videos vs blueray - one is massively compressed vs the other but the netflix 4k videos generally still manage to look pretty damn good most of the time to the casual observer and manage that all important threshold of “good enough”.