I'm 36 and have been gaming since the Atari 2600. I have seen every leap from console to console since the early 80's. The PS4 is a great piece of hardware. It runs a lot of games just as well as PC on medium to high settings. The PS4 cannot touch a good PC's ultra setting, but that is what PC has to offer.
For example, look at Final Fantasy 14 A Realm Reborn on PS3 (720/30fps), then look at it on PS4 (1080/60fps). It is a mega-leap foward like night vs day. The PS4 version looks identical to the PC on high settings. The 8GB of GDDR5 helps a lot! The highly modified CPU & GPU Rox, and it runs modified DIrectX 11.2 & OpenGL.We all saw what dev teams like Naughty Dog did with 512MB of XRAM on the PS3. 1st party games like Killzone SF, The Order 1886, Infamous SS look stunning! WOW! Also this is very early in the consoles life span. I mean look at Resistance on PS3 from 2006. It looks nothing like Resistance 3 from 2011. I cannot wait to see what they do with the PS4 as the console matures.
I currently have over 70 games on my PS4 and have not even bought 20 games. So many free games from PS+, F2D/F2P, or just download free games. A lot of people do not even realize it, but on PS4 there are a few secret free games every month. Just go to popular & digital and in the upper left set the setting to free search and bam you will find a few games every month that they do not advertise or tell ya about. It is easy to find the free PS+ games or the free to play section, but these you have to hunt down. Some are AAA, some Indie, some console exclsuive (PC/PS4).
I cannot wait to play Bloodborne in 2 weeks! So many great games coming soon! PS4 already has 450 games out or in development. That is unheard of for a console not even a year and a half old. Anyways I just wanted to share my thoughts since I feel like I have seen it all and have been around since the beginning of gaming. HAPPY GAMING EVERYONE & HAVE FUN! =)