I'm going to have to say no as well. It is incredibly powerful, sure, but that isn't a revolutionary aspect. The sharing is already being done via capture cards and with those you can edit and add commentary. The PS4 just records the last 15 minutes and you can pick where to start your clip from, then upload it. You might be able to have commentary if you set it up beforehand for the specific part, but don't expect highlight videos and montages popping up all over the place.
It'll be more like the clips people make in Halo 3/Reach/4 using the theater.
I honestly don't think the next revolution will occur until something like the Oculus Rift or Emotiv becomes a mandatory part of the console. Either that, or the first console to use graphene.....incredibly cheap, fast, thin etc. I'm talking 50-100Tbps wireless data rates, more through the medium itself, which is one atom thick. Scientists took a consumer grade lightscribe dvd burner and put over 100 graphene supercapacitors on the surface of a dvd in less than 30 minutes.
Random tangent, I know....but the PS4 will not usher in a new revolution in gaming and nor will any console until they stop taking evolutionary steps. NES, PS1, DVD in PS2, XBL, Wii, GameBoy, DS...those were revolutions, more power and sharing are not.
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