The game won't have a performance/quality mode at launch, but you will be allowed to tweak a little if you're playing on PC.
Now obviously it's not the worst thing in the world, and I'm sure many will be perfectly fine playing at 30, but I can't help but be disappointed by this news.
On a personal level I'll always go with the framerate over graphical fidelity; oftentimes the differences between the visuals in a quality mode just don't justify the loss of that smooth 60FPS, although I'm willing to grant that mileage may vary on that one.
I understand the constant want to improve visuals. They go a long way towards selling a game to it's audience, but I wish we'd gotten to a point where you could 1) have a conversation about the importance of FPS without appearing like a snob and 2) allow devs to prioritize 60FPS over graphical fidelity.