Its pretty blown out of proportion for sure, its this generations ammo for people to sling at each other though. This early in a console life cycles neither is sitting on a big library of games. People that want to fight with each other its the easiest disparity between the 2 to use.
That being said, it does mean something that PS4 is $100 cheaper and outperforms the One. Is it a massive deal for the broad demographic? No as graphics alone traditionally haven't been what moves systems. That being said to the core gamer who enjoys graphics and is looking for a considerable bump up from last generation the PS4 being a more powerful console for cheaper certainly means something.
Honestly I never even noticed resolution too much until my eye became trained to 4k. Now when I go back and look at 1080p or less it sticks out like a sore thumb. I'm a huge minority though as very few people are currently gaming at 4k resolution.
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