GPU+CPU is The solution to use but exclusives show how good a console really is not a release day but a game developed 5yrs after the console has been released as we say resistance 1 vs 2 massive changes. The PS4 IS 40-50% better when it comes to developing a exclusive game due to the higher shader count+ GDDR5 ye you could argue that its equal with both consoles but in reality its not specially if you could utilize TF
You are arguing semantics about whether or not developers can utilize all of the power of the PS4's GPU over XB1's. It's the same argument for both consoles. On paper, the GPU inside PS4 is at least 50% more powerful.
HD7870 is 50% faster than HD7790 at 1080P with AA:
http://www.computerbase.de/artikel/grafikkarten/2013/grafikkarten-2013-im-vergleich/3/
Setting eSRAM vs. GDDR5 aside, the GPU in XB1 has 16 ROPs instead of 32 ROPs on PS4. The memory bandwidth bottleneck on the GPU will not be offset by eSRAM either (but I am not even penalizing XB1's GPU for that). 10% of XB1's GPU resources are also allocated towards the OS. We don't even need to talk about eSRAM since XB1's OS has an automatic 10% penalty for the GPU!!!
Therefore, it's easy to conclude that the GPU in PS4 is at least 50% more powerful. Since the GPU architecture is identical, game developers will be able to utilize the GPU in PS4 just as well as in XB1. It will actually be more efficient since the way PS4 is designed is closer to the PC (GCN + GDDR5).