I think a lot of people are being short sighted by focusing on the situation on launch day rather than looking at which console will have the advantage over the entire dev cycle. This is the same argument that was used against the PS3 at launch and because of pricing, loss of Linux & backward compatability etc and by the end of the cycle (now) the PS3 pretty much caught up.
The same can be said who said the 360 would never survive because of the RROD and everyone would flock to the PS3, yet I'm pretty sure we all know people who bought additional 360's whether they RROD or not.
I have both current Gen consoles, and would probably buy both again if there was any IP on the PS4 that was a must have for me. However with the tarnishing of the pitiful Gran Turismo franchise, and the fact that Square Enix is releasing Kingdom Hearts 3 on multiplatform and that there is nothing the PS4 does that the X-Bone can't (but many things it does that the PS4 doesn't that interest me like fantasy football, tv integration, access to HBO & On-Demand services etc) and IP that I want like Forza 5, Project Spark, and Halo, not to mention everyone I know is on XBL for me its a no brainer. Plus looking forward to future tech the X-Bone is better positioned to move in a direction that interests me. I can put electrical tape over the kinect sensor etc should I ever feel the need to don a tinfoil hat.