They're animated. The developers let me get my hands on a short preview video, in which an American destroyer is sunk. The lifeboats were lowered by the heroic crew, but unfortunately one of them capsized when the Destroyer sunk. It couldn't get away in time because Parker had to jump back aboard the ship for his teddy, and, upon returning, realized he'd also left his comics book.
But yes, it was quite a sight.
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