Hardware spec wise, i dont think microsoft have to worry much. But cloud gaming... Yes. Sony will start using Gaikai to stream games to different platform such as tablets, pc, vita, etc...something that may attract new console user or even help convert xbox and nintendo loyalist. I think this is one of the feature that most gamers will be interested to see evolve. This might even push Microsoft into buying Onlive as well or do some sort of partnership.
Another thing is the subscription fee which was not addressed during the meeting. They did mention most feature will require subscription fee but after that they did not elaborate on the details. If Sony does goes with what they currently doing now, allowing internet play without a subscription fee, then Microsoft may have to change their xbox live gold policy.
One thing that Microsoft probably have to worry about is that this entire current gen, most multiplatform games were developed on the xbox 360 and ported to the PS3. With Sony PS4 PC like archetecture, developers are already saying that the PS4 is the easier console to develope for. We have to wait and see if that is true. Until the next box is announce we all the comparison between the two consoles are just assumptions and speculations.
