I personally think that PD struggled with PS3 development. It was a complicated machine even for the best developers. Also the 512mb split ram didn't help either. I think people are gonna be genuinely shocked what PD can achieve with PS4 and it's ease of development and 8gb ram.
The question will be how long will it take? At the end of this year we will have two Forza games(three if you kind Horizon) on Xbox One but a new GT game hasn't even been announced yet. It took 4 years after launch for GT5 to release, i think the next GT game will match or even surpass that. So 2017? 2018? Even later maybe?