More specifically, the true power of consoles in general and why they stay relevant when compared to much higher level PC hardware.
When the PS3 rumors first started there was talk of how it would be a lot more developer friendly by having a more pc-like architecture while also allowing them to "code closer to the metal".
Coding to the metal means they can build their games based on the actual hardware involved rather than having to build around the power that's left over after a PCs operating system takes its share as well as being confined to the parameters of directx. They can build their own engines based on the pure power of the hardware. They say "closer" to the metal because their is still a console's OS involved.
On consoles developers are already able to work with one unified set of parameters that all the hardware will have. They don't have to make their games playable on a bunch of variables based on many different hardware choices, like graphics card types, that a PC consumer might have. Consoles already have an advantage with developers because of this.
Bring back in the fact that PCs are made for general use. They will always have an OS running in the background during games, taking away power, so you can already see that a console with the exact same hardware as a PC will have an advantage in what it's able to accomplish. A console OS is no where near as taxing on the hardware as a general purpose operating system like Windows 8.
We now have the official specifications of the PS4 and while PC gamers claim it to be weaker than high-end gaming PCs that's not necessarily true. Even though there's more powerful hardware available to PCs, a console can take more advantage of the power it's given. PCs games are like kids playing in the sandbox at recess whereas console games are like kids playing anywhere on the school grounds (minus the teacher's lounge).
We've already seen what the PS4 is capable of now and it already looks good. Even Knack, while cartoony, had phenomenal lighting effects in-game as well as very high resolution textures (watch the conference scene right before they switch to Vita remote play). For those wanting confirmation on the new Killzone game play being real, in-game and unscripted just watch as they let Jimmy Fallon take the controls. http://www.youtube.com/watc...
These games are just the start and many, if not all, of the demos and trailers they showed were still in their alpha stages. It'll only get better in the future as developers refine their skills, knowledge of the system and push it to its limits. PC hardware will definitely be stronger but it will always be held back too.
Developers are excited, and they should be, as should you.