Now that we have seen initial reveals for both PS4 and XBox 1, here are some views on it-
First of all, kudos to both MS and Sony for outlining their next-gen plans clearly in principle, Sony is making a games first console and MS is going for an all-in-one box. Both are playing to their strengths so it makes sense.
Now, lets start with Xbox reveal first. I was expecting it to just like that, focused to TV, cloud, everything and it was. While its understandable why "gamers" on forums aren't happy about it, it may well be that MS is chasing a different crowd. And judging from the reactions of people outside the gaming press, MS may well have succeeded in their objective.
However, most of the announcements done were focused on US (and UK eventually), in other words, the markets 360 dominated. Most of those extra features wont even work in major parts of the world, so I am assuming xbox1 sales patterns will match that of 360s, which means it will outsell competition in US and UK (which consists of 30-40% of global market), but will struggle in others against PS4.
Sony focused on games first, which I think will give them the advantage in their traditional strongholds of mainland Europe, Japan and practically most regions of the world. Thing is, no matter how good the additional features of Xbox1 are, they just wont work in most parts. Unless MS shows some more things to usurp Sony, things should probably an encore of current gen.
Obviously, while their will be many other chances for both Sony and MS to show something new, I don't think the core principles that have been established in these reveals will change very much.
Here is a awesome comparison between PS4 and Xbox1 by the ever-reliant anandtech-