Pretty much.
This is a no-brainer, there's not really any discussion to be had aside from how much significantly more powerful the PS4 is.
The PS4 has general-purpose RAM that is faster than the specialized eDRAM of Xbone. It has the same CPU, but the Xbox will presumably gate away more of the CPU processing power for the three Operating Systems needed for their multi-tasking thing. GPU of the PS4 is straight-up 50% faster, and it has 50% more CUs.
PS4 spanks the Xbone back and forth, forever.
I'm getting the PS4, too, but there's going to be a lot of very disappointed people out there if they honestly believe that the PS4 has this significant power advantage over the next Xbox. The PS4 is the stronger console with the more advanced hardware, which means it most certainly will have an advantage in the large majority of cases.
However, the visual difference between games on the two machines will not be anywhere close to as significant as some people here believe. What you're more likely to see is simply a lower resolution on the Xbox One version, but more or less the same visual fidelity will be maintained. And people who claim they can tell the difference between resolutions without pixel counting or digital foundry are simply not believable. Even outside of resolution, most people will be hard pressed to find differences between multiplatforms on these systems. They will need a ton of help from Digital Foundry and other places, and if that's what it takes for you to even spot any differences, then is it truly as significant as you think?
The PS4 also isn't better in all circumstances. Xbox One actually has a latency advantage over the PS4. That latency advantage will be a better solution for feeding information to the console's CPU. And clearly you don't understand enough about the way the OS will work if you somehow believe that its existence will provide the ps4 an even further advantage. What's more, the Xbox One has a very powerful audio chip that appears from what we know quite a bit more advanced and powerful than anything inside the PS4. In other words, the Xbox One CPU won't have to dedicate nearly as many CPU resources to audio as will be the case for the PS4. Audio was so intensive in the last gen that it often took up close to 2 full cores on the Xbox 360. Even if the entire 360 cpu was dedicated to audio, it couldn't match what the Xbox One's audio chip can do.
The PS4 does indeed have the bandwidth advantage, but you also need to consider that there are simply less GPU execution resources on the Xbox One in the first place, so it may not necessarily require nearly as much bandwidth. The Xbox One's ESRAM is not an edram variant. It's 6T-SRAM, which is rather low latency. There are situations in which that low latency will be extremely helpful to Xbox One GPU performance. Again, the PS4 is the stronger console and it's clear as day. I'm not arguing that. But you are going to be extremely disappointed if you're expecting light years of a difference between the two in games. This isn't Wii-U level gap PS4. The PS4 isn't in another generation class from this new Xbox is basically what I'm saying. They are in the same capability range, with the PS4 simply just being quite more capable at higher resolutions. But if a developer simply lowers the resolution for Xbox One, or even goes 720p, where does that leave you? Just forum bragging rights against an Xbox One game that will still look nearly as good or equivalent to the ps4 version but simply runs at a lower resolution? The Xbox One GPU is a slightly weaker 7790 with access to notably more graphics memory and bandwidth. Xbox One isn't weak. It's just not stronger than the PS4. Big, big difference.
Developers are going to properly optimize their games on both machines. They won't just allow the Xbox One version to run like crap in comparison to the PS4 version. They won't just have the Xbox One version looking like crap in comparison to the PS4 version. Does anyone truly believe that the new Xbox won't have fantastic looking exclusives? The specs don't mean the games can't be incredible.