I'm going to have to say that assuming everyone's playing on a 1920x1080 display, 1080p native render output does matter depending upon the size of the display being used and the distance between the player and the display.

Sit far back enough and one won't be able to tell the difference. Poor eyesight and an outdated corrective lens prescription and again; probably won't be able to tell the difference. Of course the idea here is not to have poor eyesight, or sit so far back from the display that it's all the same anyway.

I started building PCs and playing multi platforms on PC for native 1080p resolutions at 60fps. So it mattered enough to me to build my own gaming platform.

On the 8th gen of consoles, I consider higher resolutions to be a given, not some sort of option to be sacrificed for better frame rates or better visual effects.

I demand all three or I may as well be playing on a 7th gen console assuming it's not an 8th gen exclusive.

Its not a night and day difference. I've have several X1 games varying from 720p, 900p, and 1080p. I honestly don't see a huge difference between them. The difference is more evident when you're playing a PC game and switching resolutions.

Pretty important since I use a 65" TV, but imo it's not about resolution vs. effects.  The extra power in PS4 could be used for more / better effects, higher framerates, not just extra resolution - I mean with more compute units and higher throughput on PS4 you could have whole features or effects that make it onto the platform and not on the Bone.

And remember the underlying architecture is very similar between the two consoles, so the idea that Xbone will one day equalize the PS4 is misguided.  It's like wishing that one day a 150HP car will be just as fast as a 200HP car.  Never going to happen.