Not at all, parity means that everything is equal, not just resolution.
You can have the game run at 1080p on both systems, but if the level of graphical details aren't the same and the frame rates are different then you still lack parity.

TBH neither system is even close to fully optimized yet, both have a lot of room for improvements.

When you have a developer like Ubisoft that says they could achieve 100FPS in ACU if CPU wasn't an issue and the GPU can handle AI, Physics & Audio processing alongside graphical effects, but their game can't even run at a stable 30FPS at 900p it shows that the optimization and understanding of how to make their game work on the system simply just isn't there yet.

The hardware differences are static, the software on both has a tonne of room for improvements, you should never have parity between these systems unless the game doesn't require the full use of XB1's level of hardware.

You may be referring to Child of light.

http://www.eurogamer.net/articles/digitalfoundry-2014-child-of-light-face-off

Until all games have same specs there is no parity.

NO! and that until forever.

So many In here dont understand logic. Software can make as big of a difference as Hardware. Xbox One is a car that's untuned and its trying to keep up with there opposition which is pedal to metal. More horses is important but it comes down to efficiency and optimization. You dont need more horses to have better looking games, if they can optimize there hardware better then they will have better looking games.

A Skyline GTR has less cylinders and horses compared to many other supercars yet its just as quick if not quicker.

So , here goes.

For the millionth time.

The gap between the two consoles is hardware based, software updates / dx12 / sdk updates etc, may improve performance but only as a result of better using the hardware the consoles have, both consoles have a set point in terms of performance, the gap between them is not, and will not change.

Software differences only blur the lines somewhat, they don't bridge the gap.

The X1 has a slower APU so the PS4 will always be the stronger system, unless Microsoft comes up with something like the New 3DS.

Read what Tachikoma has wrote

thats a terrible analogy.

If you tune the engine, you get a very minor performance boost, the second you start changing parts like adding a turbo, replacing stock parts for performance parts, new muffler, different fuel, weight reduction etc, you are modifying the original hardware by adding better performing components.

Can we at least agree that in no way did the Powah of da Claud make the difference for the XBone? And that it was all total BS marketing hype. That games are now achieving 1080p on it is due to careful optimisation towards the platform by the game developers.