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We still don't know hardly any details of Sony's service, but it has the potential to be exponentially greater than Microsofts.
Think about it from the perspective of someone who has a monthly cable bill, like I do.
Assuming sony launches with a competent selection of live tv networks- I have two choices

1) continue to pay that monthly fee and use the hdmi pass through so that I can change stations by talking to my tv with the Xbox One. OR
2) cut the cord and loose the large cable bill and embark on an internet streaming only live tv service through my PS4. Imagine if they allow A la cart options, I could select a basic channel lineup, espn, discovery, hbo, etc without having to pay for all the unnecessary fluff channels nobody cares about.

I have been waiting for something like this forever, it will also offer dvr capabilities through the app itself, all running from the PS4..amazing and kind of unprecedented- even a bit trailblazing.

Im sure it will take some time for sony to get all the different network contracts, but what we have been hearing about this is encouraging.

It's funny isn't It, how Microsofts whole catch is the tv integration and how it is the ONE box you need but in reality, it's an overlay onto your existing cable box which you still need.
Only Sony's solution with the PS4 will actually give you everything you need in ONE box.

̶3̶R̶D̶   2ND! Place has never been so sweet.