So the take away is ...
1) The PS4 version is being held back (graphically at least)
2) The consoles are not as powerful as they would like.
It's a shame really. I would still prefer they push both systems to the best of their ability. I doubt people who exclusively own the Xbox One would mind if their version was at 900 as opposed to 1080 on the alternative platform.
Playstation = The Beast from the East
Sony + Nintendo = WIN! PS3 + PSV + PS4 + Wii U + 3DS