Yes but those consoles use the more developer friendly, and now archaic x86 architecture, which means people can max out those platforms much more easily than the exotic architectures from previous generations.
Don't expect miracles. PS4 and specially Xbone owners are facing the same dilemma as wii u owners back ago: my system is not as powerful as I thought.
Also to a user up there, if this launch "next gen" games is what you were waiting for so long, welcome to 2007. Crysis baby.