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The biggest problem for PS4 right now has nothing to do with similarities in graphics between the two and multiplatform. The biggest problem is that Microsoft is embracing the cloud as a main feature while Sony is not. A lot of multiplatform games will take advantage of the cloud, if not early on later on. This will be the difference between the two, as the cloud will give the X1 advantages for people who play online. Im betting Sony will embrace the cloud by the end of the generation.

As for specs, developers has been saying for months and months they are similar and see no differences.  This whole one is more powerful than the other is just fanwars.