My take on this is related to screen size. When the PS360 came out, the most common screen size was 32-40 inches ion a larger screen in a home. Now, an average large screen tv is 55 inches or even 65 inches. The graphics change is much more obvious on a large tv. I have a 70 inch tv that my XB1/PS3 are hooked up to. When I switch between them, there is an obvious difference.
It is near the end of the end....