P5's displacement is Exactly the sort of thing that zbrush does -- in fact, once it's more broadly used, you'll likely see a great many displacement maps available as the possibility is pretty incredible -- on both high and low resolution figures. Regular displacement simply moves the polys themselves, while the kind involved here is as noted above -- it sort of changes the surface of the polygon by breaking it down even finer in the rendering engine. The underlying engine that makes firefly work is of the sort that handles displacement better than it does ray tracing -- and it's very, very good at displacement.

thou and I, my friend, can, in the most flunkey world, make, each of us, one non-flunkey, one hero, if we like: that will be two heroes to begin with. (Carlyle)