When your self-worth is determined by what you own instead of who you are, then what you own becomes very important.

@OP:

Just for the same reason with PC HW, with the only difference that console HW is ready to use e-peen, while PC HW is Ikea e-peen, you must assemble it first.

Beats me. Bragging rights, I guess?

I know it's trite, but look at the PS2. Technically inferior to Xbox and GCN, yet arguably the best console ever made. Why? Because it had a huge library of awesome games.

I guess one could argue that more sophisticated technology allows developers to make better games, but I've yet to see this hypothesis proven in the field.

Well, on one hand I am not that bothered by bleeding edge graphics as games definitely take precedence. On the other hand I do want games to progress technically so if a company made a barely superior system I'd have to ask why bother making a new one and not sticking with the old one.

Really the specs say to me hopefully end of annoyances like load times, frame rate drops, draw distance, etc. that have plagued past experiences.

Because it's easier to argue than admit that you're wrong.

I don't know but I know they play games and that's all that matters to me xD

It's like free penis enlargement pills.
You don't want to see the sizes of our penises.

So what if it's more powerful? It's not like the difference is a generation away. Think PS2 vs. Xbox. Which one had the better games? Which one received better support from developers? Those things are the more important aspects that people should worry about.

Then why did you spend more than half of your op talking about how the difference isn't big?

To specifically emphasize that even if it is big, it doesn't matter. Whatever the difference between the consoles, there are more important things to worry about. My example of the PS2 vs. Xbox illustrates that even if you have the better hardware, it doesn't mean you have the better console.