No, I disagree with that. It's always been perfectly normal to have ultra graphics a bit out of reach so that the game will look great on future graphics cards, and 120fps is a ridiculously high number that should never be expected even with top of the line graphics cards for a brand new release. (Assuming 2 or 4k)

However, a 1 generation out of date graphics card should be able to easily play most things on High settings at a decent framerate (aiming for 60) on 4k settings, which Borderlands failed at horribly. Medium to low settings on a 4000 series card sounds like a gutpunch to me.