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Its simple really... That extra $100 is for Kinect which also takes up cpu/gpu resources

On top of that, ps4 is all gddr5 vs xbox one is ddr3 + small amount of edram... Gddr5 is faster than ddr3 but eDRAM is way faster than both however, the x1 only has a small amount of eDRAM to work with plus the developers have to use it properly to make it effective which is why the ps4 is overall faster... (I might be a little off somewhere though)

I also heard something about the cpu clock speeds being slightly different but yea, I believe those are the main reasons... MS isn't doing that bad considering it costs $100 more so far

Its basically MS underestimating Sony which I think they had every right to do so based on the position Sony was in with the whole stock market and etc but in the end, Sony impressed all (except the PC master race) with the specs that they showed + price point



                  

PC Specs: CPU: 7800X3D || GPU: Strix 4090 || RAM: 32GB DDR5 6000 || Main SSD: WD 2TB SN850