to be honest it reminds me of my first game model which I did pretty much one year ago, the textures do need to be defined some more ie: folds, muscle etc, but that comes with time and to answer your question
No, it does not look as bad as you think, it looks pretty good, just a little bit more tweaking and it will look even better.
here is a tip: for folds I use the burn and dodge tool, I also use them for defining muscles.
good luck
Dae