Seems pointless to spend over $900 just to do that, but hey if you got the money go right ahead and do it I guess...

There are millions of people who buy all the consoles every generation. I for one think that's excessive, I can never play all the games available on one console, so having more than one simply makes no sense to me. But millions of people want to play the best exclusives each console has to offer. For those people playing PS4 through Xb one would have been a nifty little convenience, so it's a pity that it doesn't work as advertised (see Major Nelson comment re play your 360 through the Xb one HDMI in, unless there's some special sauce that means 360 is the only device that won't experience notable lag).

I would not be surprised if Penello is fudging things. Yes there's HDMI lag so you can talk about it without telling lies, but the lag time is probably a millisecond or so, which means not enough to actually affect game play in a noticable way. After reading his BS GAF posts about the Xb one power vs PS4 I'm not terribly inclined to accept what he says at face value.

Splitscreen, two can play 2 different consoles on the same tv. Looks like that's the only splitscreen is supported next gen...
My old HD ready CRT tv supported this, wife was playing R&C on ps2, while I was playing on the xbox. Only 1 could have sound though.

Btw if it adds latency to the video feed by resizing it, doesn't it do it to the game feed as well that also gets resized?

how was he bsing when you can plug the 360 into the x1 all this says is that it wont be the best experice 

You wouldn't buy the xbone just for this... Are you spending $400 to watch netflix on your PS4? No. It's just a cool bonus feature, just like PS4 into XBONE could have been.

Will Xbox One into Xbox One work. Plenty of people had multiple 360's this gen, why no plug an PS4 into an Xbox One, into an Xbox One. Pipip style.

Bring your XBox One over to your friend's house, plug it in your friend's console and you can play splitscreen multiplayer online with any game without a performance hit. Missed marketing opportunity.