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Wright said:

Is this due to uncompressed audio, or the cutscenes, I wonder?

Thats basically it. On the PS3 their games rendered their cutscenes in engine and saved them in HQ HD for playback while playing the game to hide loading screens. Hence, the cutscenes always looked better than the actual game. On the PS4, even though the entire game runs at a fidelity higher than the cutscenes on the PS3, they are still storing those cutscenes as videos cause the engine was built around that process. 

They have said they won't be doing that with uncharted 4 though. Basically any game that has lots of video content, even if its in-engine would eat up tons of space.