Its more than just graphical prowess though.
I play 99.99% online. If I had to change from Xbox to PS I also exit the online community that I have been part of for so long. So for me - even if the PS4 has more grunt, I will stick to Xbox - unless there is a unanimous decision amongst online friends to all change direction.
I had to make this very tough decision recently having been one of the first people in the country to have a Xbox 360 long before it officially launched and having been a massive ambassador for the console for the last 7 years being highly involved with xbox-360.co.za
Eventually decided to go PS4 purely because of Microsoft SA's complete lack of effort to even announce a launch windows (as it stands their press release saying nothing more than "2014") and my belief that they've already lost the market because of this. If they launched in Q1 they would have stood a chance...Q3 or Q4...it's dead in the water.
So I figured my 100 Xbox friends (which constantly gets chopped and changed due to the limit) would all but disappear when I made the switch.
Quite the opposite happened and my <20 friends list from the PS4 is now at almost 80 as endless people from years gone by that I actually know from the Xbox community have been adding me via Friends of Friends etc. Only a handful of people who have added me have been randoms.
The PSN network is also vastly improved compared to the shambles it was before and with the addition of party chat and such it's finally useful as a multiplayer system. I've been jamming a lot of Battlefield 4 and it's honestly been a superbly lag free and pleasurable experience.
They need to do a bit of work to making joining games and such from the dashboard a bit more simple and straight forward but that's an easy software fix I figure.
As it stands with no local support for the Xbox One I honestly wouldn't bother. And even when it launches locally eventually I suspect it's going to be a terribly lonely place, not like the Xbox 360 which was cheaper than the PS3 and therefore more accessible.
The roles have reversed and the local market is Playstation country once again.