Well, when the OG xbox released, it's graphics card was 2x more powerfull than any PC GFX card avaliable at the time. When the x360 released, it's graphics capabilities was roughly on par with the top of the line GFX cards out. But with this Gen, there have been GFX cards (such as the radion R9 290x) that were already 5x more powerfull than the PS4's GFX card at the time of release, and that gap is only going to get bigger.
Then again, you have to look at the other side of it. Right now, the next gen consoles only cost $200 more than a last gen console. Thats not really a lot considering that the last gen. consoles have been out for 8 years. So yes these consoles are much weaker than consoles that have come before them, but they are also much cheaper.
Consider, when the X360 & PS3 released, they were $400 & $500-600. Now, eight years later the next gen. consoles are both $400, which while you might be saying that that is the same price, you have to remember that over the coarse of 8 years, the value of the dollar has inflated considerabally, and so $400 was a lot more money back in 2006 than it is today in 2014.
