This is just a wash, rinse, repeat of the last few generations arguments.
First it was the Xbox's slight power and occasional resolution differential over the PS2, then it was all about the huge difference a here-and-there resolution difference would make to the PS3's library over the 360's, more recently its been about how 1-200 extra horizontal lines of resolution makes the PS4 enormously more powerful than the Xbox One.
The reasons this is getting more attention than usual are mainly two fold:
1. Its been a long time since Sony fans have faced being on the losing end of a resolution/most powerful console debate (largely due to Sony's admirable commitment (in my opinion) to powerful and high quality hardware) and they are not taking it very well, reversing course on the importance of resolution etc.
2. Its been a long time since Xbox fans faced being on the winning end of a resolution/most powerful console debate, (largely due to the stupid decision to spend hardware budget on Kinect) and some of them are failing to be the bigger person and having too much fun with it.
Ironically, the jump to 4k resolution could be the first major change in visual acuity seen in consoles since the switch to 'high def,' if Microsoft pulls it off correctly. As Zekkyou has already noted, there are a range of reasons why that is not entirely likely.
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