Infamous Second Son is an amazing looking game that runs at 1080p@30+fps, but sooner than later, we're going to hit a wall, and it almost seems like we already have where PC games look better than their console counterpart with all the graphical effects added running at the exact same resolution.
But the thing is, why should consoles run at 1080p with barely any increase in clarity compared to 720p, when they could run it at 720p and basically double the amount of power that they can push towards graphics? Whether you are running the game at 480p, 720p, or 1080p, the resolution increase is going ito be nothing compared to the graphic effect increase they can put into the game. Or run the games at 720p@60fps and still have the extra power to push better graphical effects from the games.
This way the PS4 and Xbox One can stay comparable to the PC graphically, even if resolution and maybe framerate can't compete.
With console games, resolution is hardly a difference. With all resolutions on consoles, it's the exact same image with more pixels put into detailing that image. So you get an image with less jaggies and a bit more clarity. With PCs some games have that same resolution change, but PCs also have games that at a lower resolution the image viewed may have the exact same res as a higher resolution image. The difference with the higher resolution on those games is that you have more screen space.
Here's two images of FF13, one taken at 480p, the other at 720p. Because my current motherboard is too small to hold my capture card I used a passthrough device which adds AA, so there's a bit more blur than there would be on your tv but also less jaggies. These images were full resolution, but also photobucket downscaled the image resolution when uploading. Going from 480p to 720p is more noticeable than going from 720p to 1080p, and it's still hardly a difference.
It's not like devs can't increase the quality of the graphics ever so higher. You think real life would look worse than a video game if it was a 480p image? What do you think you're been viewing on your old SD televisions? 480i and those graphics look better than anything I've seen on a video game.