My layman's take:

With XBone as basis, your 4.5 figure exactly shows that 4K at same frame rates is easily plausible., given 1080p:4K(2160p) is exactly 4x.  To be fair, PS4 should be the basis of comparison, because AFAIK they're abandoning XBone memory arch and going closer to PS4, really.  Comparing Scorpio to PS4 GPU yields a ratio of 3.26x, meaning a 4K experience otherwise similar to something between XBone/PS4 is plausible.  Upscaling (from "3.5K" etc ala XBone and even PS4 ->1080p) will still yield higher fidelity than current gen, with room for better FX/fps stability.  AFAIK, NEO and Scorpio will benefit from similar GPU tech re: data compression, but Scorpio seems likely to take further step in CPU arch past Jaguar.

But with NEO offering similar FX/ better fps on 1080p that most people have, and doubling down on PS4 platform base unlike Scorpio (as I take it), I don't expect Scorpio to change much competitively, especially with a NEO able to beat it $-wise, likely with a Slim/Cheap model a year after Scorpio.  MS' high point was 360 when PS3 was expensive and tweaky, yet PS3 still outsold it in the end, this time Sony is not down on their game.  I do applaud MS for aiming high as I would say they are, and think it will push Sony and devs to step up their game...

I guess the open question is, besides pushing Sony to up the NEO specs (as with XBone, last minute up-clocks are plausible, devkits or not), how it will affect Sony's plans for NEO 2, spec-wise, and schedule-wise.  But I guess the point of tightly-compatable HW revisions as Sony is doing, is that it frees them up to re-launch whenever more convenient to them, they can accelerate or delay the next upgrade however works best for them.

Just thin about it for a while...

At the beggining of this generation, neither could say that they had the best stories or narratives on their games, because there were none, so the only thing they could brag about was the raw power of the consoles... Now, with bigger fan base, a lot of good AAA games already out, and some very good stories, and a weaker console, it would be idiotic from sony, trying to aproach from the raw power perspective. You have to use your best skills to attack your enemy... not the other way around...

As expected.

Not my quote. The dude that posted that misquoted me.

This is the worst E3 I've ever experienced on VGC. I forsee a lot more locked threads. 

Sorry, but I don't see the xbox becoming a Windows 10 box. It'll obviously be more integrating with a PC, but its not going to become just a PC in a box. And BTW, a scorpio powered GPU is around 200$ (RX480) today, I think in a year and a half you could be able to get it into a 400$ machine (granted with a slight loss).

This is why I think the PS4 Neo was not at E3.

Sony doing what they know works. Let others try and then do the same thing but 20% bigger.

Might be alittle hard if Neo Dev kits are already in the hands for Devs, plus from rumours, the Neo will be out first so all Sony could do is tweak the CPU or GPU alittle bit, but i daubt they can managed a 2TF tweak without redesigning the entire system.

On topic, This is no suprise, Sony's view on gaming was all about more power and now it might be the funniest thing iv heard all day where they say Power isnt everything. Maybe next time they shouldnt drive sales by downplaying there competitors with Power. It will always come back to bite you when it comes to tech.

Copy pasted from my other post because i'm lazy:

Bar brief mentions at places like E3, Sony themselves have rarely ever brought up the PS4's hardware advantage, especially in recent years. It's been primarily gamers and the media pushing the "hardware narrative", not Sony (and a lot of that can be credited to the context of the difference, rather than the inherent gap). I expect it'll be the same with MS; brief mentions, but never a focus.

Suddenly power doesn't matter anymore! lol.