If you had a console launching these days and wanted it to be the equivalent of what N64 was back in the day, you would need an absolute top of the top PC, and still need to overclock the shit out of it.

PS4 and X1 are mid-range PC's. You can't expect such a revolutionary graphics performance at launch for these consoles.

Maybe down the road with some trickery and facking you could get something really special, who knows.

well,a nintendofan told me that nintendo already started coding mario64 on SNES in 1993 before they decided to move it to n64
Lots of content etc. already existed and just had to be converted.
means-they coded 4 years on that game.

that's a lot more time & you must consider that at that time effort into coding games was x-times lower(low res,low polygon count,mono texturing

I would add to that list; Power stone, Sega Rally 2, Wave Race: Blue Storm, Star Wars Rogue Squadron II: Rogue Leader, Jet Set Radio Future & New Super Mario Bros. U.

My point is not about graphics at all.. it is more about how the devs are lazzy with launch games and the fans accept that because that excuse.

..such a double edged sword. 

Not really. Today most games are built upon pre-made engines. Back then the transition to 3D was quite hectic for programmers and developers alike. 

Mario 64 sucks in my opinion.  Artificially extending play time by forcing you to go back through the same ridiculously small stage over and over again to collect stars. 

No, it's not laziness, it's just that consoles are much more complex to develop for nowadays, yes, even moreso than developing in the jump from 2D to 3D.

Games simply take much more time and money to develop, and when you consider the time constrait developers are on from acquiring the hardware to work with, to getting it out by launch date, it's fair to forgive some bugs and lack of polish.

First party isn't really an excuse however, third party is.

First-Party Sony: Killzone and Resogun

First-Party MS: Dead Rising 3 and Forza

And those are damn good games.

Not to mention 64 only had two launch titles in NA: Mario 64 and Pilotwings 64, awesome games. But only two. On par with the quality titles PS4 and Xbox One have.

Unfair comparison. All Mario games are perfect.
I will contend your argument and say that the launch titles are indirectly bad because they are launch titles. Because the games aren't the problem, the developers are. You can't compare top tier developers like Nintendo with second tier developers(sorry DICE and UBI :P). There aren't any really good launch games because the best developers were still busy with the blockbusters from last gen. So It's really an issue with timing than with the developing process. There is no Media Molecule, Santa Monica, Naughty Dog, Bungie or Suckerpunch, Rockstar, 2K because they were all busy with last gen.
What I'm saying the launch titles aren't shit because they are rushed but because they weren't developed by the better studios. That's not the fault of the Games, developers or console manufacturers but just bad timing.

Nintendo just tends to roll with stronger launch titles for their home consoles, with GameCube being an outlier (though Smash Bros arrived fast enough to almost be launch) (far less so on handhelds as DS and 3DS demonstrate)

At the same time, it's true that launch titles are held to lower standards, and that's perfectly understandable. Paucity of titles makes a weaker title less of a liability from a business perspective.