It sounds like the PS4 will be about on-par with the current generation of PCs. Considering what they are capable of, I don't really see that being a problem. Besides, it was unlikely that the next generation Playstation was going to be that far ahead of modern PCs anyway, especially after how much money Sony lost on the Cell.
If the PS4 will be as good as current pcs, then in 2013 when it launches, it'll be 2-3 CPU/GPU generations behind.
And how is that surprising or bad? Game consoles have always been less powerful than PC's. Console manufacturers use a base set of specs and keep it that way throughout the console's lifecycle. This makes it easier for developers to make games, since they won't have to constantly update their games for the newest hardware.
Also, tablets, handhelds, and other mobile devices are less powerful than PC's too, yet no one complains about that.
I didn't say it was bad. It's the way things go. I was just stating a fact, although I think it's more likely to be on par with last year's PC specs. Even if they use the 7000 radeons as the base, they won't use the 7970, which is the most powerful and costs $550 at the moment. Even in two years, the same or equivalent card in the 8000 or 9000 series will be no less than $300 most likely. So while it will be on par with midrange graphics cards today, those midrange cards, in two years, will be the budget cards($90-150).
Bringing up tablets and other mobile devices, those are updated 1-2 times a year with better specs, so it is not a good comparison. And most people who buy tablets don't care about the power. They care about if it will update their twitter feeds and facebook accounts and play Angry Birds and how long the battery will last.
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