Does this quality now surpass what is possible using Adobe After Effects?
No, it wouldn't surpass it as After Effects has a full blown professional motion graphics system that can do whatever you want for a title. Depending on your goals it it may be able to do as well, but Resolve isn't really a comparable product to After Effects if you want to get in to very custom work.
Resolve is really more of a parallel to Premiere than it is to After Effects. Fusion is the product that is a parallel to After Effects, so it would be more comparable and just about anything you could do in After Effects can also be done in Fusion. Both are advanced enough products that they have some differences in features, but are both extremely capable pieces of software.