For those saying that the ps4/One hardware is the same relative to current gaming hardware as the 360/ps3 were:
The 360 had a sort of hybrid x1800XT/x1900 card which at the end of 2005 was going for $300. The ps4 uses basically a 7850, which is a $160 card, and the One uses a 7790 which is $120.
The ps4/One use a 1.6ghz AMD octocore which at the very best will give performance close to an intel i5 3570, probably closer to an i3. At their time the 360/ps3 used CPUs at least clocked similarly to their desktop counterparts (in the 3ghz range) even though they used the IBM power architecture. So the performance delta here is probably actually pretty similar to 2005.
The 8gb of RAM both systems use is actually pretty generous compared to the last release, I would say this is the only area where it's better than the last round.