Different, not inferior. More memory bandwidth sounds cool, but it's not everything. I like the idea of the Kinect, whether it's actually useful or not. I like that MS has an established cloud service, again whether it's actually useful or not - one clear case of benefit is that no game servers will need to be retired, as they're all virtual. I prefer software done by a software company. I also prefer the controller layout.It's still inferior in terms of hardware, while costing more.
I'm disappointed with their reversal. I truly believe in an all-digital future and this has set those plans back a decade.