Even if we take out the multiplatform titles (Destiny, Battlefield 4, Assassin's Creed IV, WatchDogs, new Epic Game, I assume it's Fortnite, Call of Duty MW4) the rumored Xbox lineup is strong.
Let's compare them:
FPS - Killzone: Shadow Fall vs. new Zombie game from Black Tusk Studios
TPS - Infamous: Second Son vs Alan Wake 2 (It would even be more even, if AW2 becomes open-world, like the AW1 planned to be.)
Racing - DriveClub vs. Forza 5 or PGR 5 (I don't think they would release two racing games, and even if they do, it doesn't make business sense. Release PGR 5 to give a franchise a boost, and release Forza 5 a year later or so to counter Gran Turismo 6. However, if they release both Forza will probably crush PGR.
Platformer - Knack vs. new Rare IP (God, I hope Rare makes a great game, even I'm sure it will have Kinect support.)
Core game with motion control - Ryse vs well Sony doesn't have anything.
Of course it's a rumor, and we haven't seen a single game from Microsoft or what Sony still has for the PS4, but it will be an even battle from what I gather.
PS.: Alan Wake 2 will be an exclusive, or will come out on PC? Because the AW series creator Remedy is a big PC supporter.