I remember Mark Rein said that Samaritan demo from last year required processing power of 2.5 TFLOPs to run at 720p resolution.
So the PS4 is definitely below that.
But what can he say now? 1.8 TFLOP for PS4 is OK, and they need to sell this Unreal 4 engine to as many PS4/720 devs as possible (that is their business after all), so he's not going to slag on the PS4/720.
Behind the scenes though it's possible they were a little disappointed in the GPU raw horsepower as it doesn't meet the requirements for Samaritan at 720p that he outlined.