VMblast I have one question, so if anyone see's this, especially from the coder side, Id appreciate a reply.
Is it possible to do this in Godot, to recreate this kind of tech? (maybe minus GI as this is already in)
Depends what you mean by that. Are you asking if you could implement these in the editor without modifying the engine core source? Perhaps some, probably not all though. Some of this could perhaps be implemented as a GDExtention, so outside the core, but probably still needing C/C++.
VMblast The big letdown for me concerning Godot, at least in this first iteration of No4, is that there is no any built in terrain implementation.
I wouldn't hold my breath while waiting/hoping for that. I recon it might appear as a officially supported GDExtention addon down the line perhaps, but it's unlikely to make it into core feature set I think(this is just a guess tho).
I also frankly wouldn't be in favor of having such bloat in the core anyways. Thinking of Unity as an example here, though the same applies to engines like Unreal or Cryengine, in my experience the built in terrains are rather limited and not very good and not conveniently extensible so I wouldn't use such in the first place, personally. But an officially supported first class add-on if you will, would non the less be a welcome sight of course.
I do have to acknowledge the Unity one is itself technically a script/add-on that's bundled with the engine tho.