No it wasn't it actually started out as a dispariging term by Yahtzee when making fun of the fact that PC gamers tend to like "overly complex" games. Specifically the fact that The Witcher had a "complex" inventory and quest system. It blew up from there mostly used as an insult towards PC gamers by console gamers. Of course being called the master race as an insult is actually kinda funny so PC gamers started using it ironically (tho I am sure some idiots take it seriously) despite the Nazi connotations.

Well Its more popular on consoles now. Actually far more popular. PC cant follow the numbers Far Cry 3 got on consoles, let alone follow the sales on the individual consoles themselves. Ubisoft is just pandering to their newfound consumer base that gives them the money they crave, so they are upping the quality for us a little. At some point ultra will be beyond these new consoles anyway.  The PS3 and Xbox 360 both achieved around 3x the sales PC  achieved individually. Of course Ubisoft is going to want to please us more to keep us around.

Edit: You know what never mind, if you haven't managed to grasp my point by now you never will.

As in the old video card GeForce ultra lol.

Ive seen numberous PC master race banners by people who were PC gamers. Sure, Yahtzee might use it but most of those guys affilicated with the Escapist are PC gamers.

That's kind of suspicious coming from Ubisoft but hopefully at least the game will be decently optimized.

I understand your point quite clearly. Many games in the past capped out much higher on PC, but guess what I stated that sales are also tugging away at Ubisofts decisions. That and the console makers have been heeding the calls of Ubisoft to increase the power of consoles next gen because they were planning on upping the workload on their primary franchises. They need the consoles sales, but they also need their graphics to not hold PC back as much as consoles last gen did. Even I have to admit last gen consoles held back PC games considerably even though the PC versions were superior in their lead form. Far Cry stood out because it was made for PC regardless. In essence it will be the same in that regard because They will be utilizing the power of the new consoles but still dumbing down the game for the last gen crowd who will make up the bulk of the sales anyway. They want to make the games power accessible to the next gen crowd to sell the power of the next gen consoles because they know those people are more than likely sticking with consoles anyway.

But there PC sales have been going up

and Watch Dogs was only equivelent to PC High rather than ultra on consoles, despite it being a shoddy port in many repects. It makes no sense to not push further in a franchise they know does well on PC that also will come out much later meaning there will be more PC gamers out there with more powerful hardware to take advantage of the higher quality settings when it launches. It seems entirely backwards to gimp Far Cry 4 and not their other releases. And it's also strange because Ubisoft are one of the few major publishers putting out PC exclusives with a new Settlers game just being announced today. As for last gen making up a bulk of the sales I very much doubt that

The current consoles will have an even bigger install base by the time Far Cry 4 launches.

Ok Watchdogs development process has nothing to do with Far Cry. Two different games with two different engines that both are lead on two different platforms. Sure, Watchdogs bottlenecked and was dumbed down, but that was because it was being dumbed down to be at least adequately playable for last gen consoles. Far Cry 3 is being made lead on PC (totally different and the opposite of the process with AC and Watchdogs) and its very telling about the different development process with the Cry engine because they managed to access ultra PC settings out of the new consoles. Thats amazing to me. I don't know how it could be seen as an insult. I thought every console multiplat which would lead on PC would be at least high on PC as they said it would be after the PS4 was revealed. This means the consoles which are getting ports of the PC version have more juice in them than we once thought. 

Also, I never doubted that PC sales are rising. I was just speaking primarily about Ubisoft games in general. Is that a Ubisoft list because it has no description of what it pertains to.

That was from Ubisoft's last financial call yes.

now addressing your other points.

Watch Dogs was made lead on PC http://www.pcgamer.com/2013/02/27/watch-dogs-is-targeting-pc-as-lead-platform/ r at least that is what Ubisoft's CEO said. They also said AC4 was PC lead as well http://gamingbolt.com/assassins-creed-4-black-flag-pc-is-lead-platform-will-be-ported-to-consoles. Not that it shows in the quality of the end project.

Far Cry 2,3 and 4 are not Cryengine actually they are built on the in house Dunia Engine. It should also be noted both Assassin's Creed's Anvil engine and Watch Dogs Disrupt engine actually use tech from Dunia. For example

"The Anvil and Dunia engines are quite relevant here as there are features that were taken from both of those engines and used in the construction of the Disrupt engine. So things like Assassin's management of an open world city, and Far Cry's vegetation and AI mechanics have been implemented in Disrupt."

http://www.destructoid.com/how-the-new-disrupt-engine-gives-life-to-watch-dogs-253470.phtml

Ubisoft have a central tech team that works on tools and technology fo all their games. It's based in Montreal and has over 100 developers just in that department. Having the tools and piepline be similar across all their projects is esential for how Ubisoft manages their development teams where each game is worked on by multiple studios around the world and developers switch between projects as needed. You don't want to have to retrain everyone when you are moving hundreds of people between projects.