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PS4 is better, but I really don't think the Xbox One is bad by any means. I'm happy with my Xbox One S.

PS4 has a lot of heavy hitter exclusives: God of War (2018), Horizon Zero Dawn, The Last of Us Part 2, Uncharted 4, Spider-Man, Infamous Second Son, Little Big Planet 3, Shadow of the Colossus, The Last Guardian, etc.

I think the exclusive library is a step down from the PS1, PS2, and PS3, but it's still really good.

The Xbox One is more hit and miss with its exclusives. Halo The Master Chief Collection had a rough launch, but it's great now, and Rare Replay is another amazing compilation. Sea of Thieves is arguably the best new game Rare has made since being acquired by Microsoft. Sunset Overdrive and Quantum Break are both pretty good, and I'll vouch for Ryse being overlooked. Halo 5 is good but not great as are Gears 4 and 5. Forza Horizon really took off on Xbox One.

The Xbox One is a definite step down from the original Xbox and Xbox 360, and I think it's comparable to the Wii U in that it has a handful of great exclusives but hard to justify buying for most people over a PS4.