Anyway, what I was posting to say was that you've overlooked something in your post. Yes, the ESRAM in the XB1 may be "less than 20GB/sec"
(note - as an old C programmer, I say **** the bolloxed up and useless SI-ification of GB. It makes zero sense for a numbering system that uses Base-2 and was just pushed by marketing ****wads). However, two things on this. Firstly, 20GB/s is actually a pretty nice boost not to be turned down. Secondly, and the main thing you've overlooked, is that it can do this IN BOTH DIRECTIONS AT ONCE.
Unlike the DDR memory (which is most of what the XB1 has and all of what the PS4 has), the ESRAM can be read from and written to simultaneously. In the right sort of operational scenario, that's effectively double the bandwidth.
The ESRAM is quite small (32MB). What MS believe, is that you can fit an entire useful set of operations in there and thus have that sub-set of operations run. For a worked example, suppose you can fit most of your character textures into the ESRAM (I believe that to be plausible, with only occasional swapping in and out).
Now in the normal case your process would be:
DDR --(
texture data)-->GPU.
And that would be a very frequent operation as you drew and re-drew characters doing things.
Utilizing the ESRAM, it becomes
DDR --(texture data)--> ESRAM
(once only) --(
texture data)--> GPU
As you can see, once the data is loaded into the ESRAM, the entire character texturing process is using the significantly faster ESRAM. You kind of dismissed 20% difference earlier. I do not. 20% can be quite significant even though in this example it relates just to one sub-set of the process of creating each frame.
When you're reading and writing at the same time, rather than waiting for a write to memory to finish so you can then read from it, your 20GB/s improvement becomes a 40GB/s improvement.
ESRAM is actually potentially very useful with the main concern being the size of it. If MS had doubled it to 64MB or up to 128MB, now that would be amazing and definitely have some effects. What it comes down to chiefly, is what can a game developer fit in that 32MB? A Lighting Map or a Shadow Map? Probably, I should say. Textures for main characters? Perhaps. Pushing it though. Still, the potential is there to get some significant real world benefits from it. In some circumstances significant benefits over the PS4's model.
What I'm really trying to get at though, is it's COMPLEX. Both consoles have so far seemed very similar to me. And they're both going to deliver comparable performance, I suspect. By far the largest factor in anyone's decision should rationally be the games available and what networks your friends are on. All we really know at present is the following:
(1) The PS4 in default state has a small memory speed advantage.
(2) The ESRAM added to the XB1 can add significant advantages which can reasonably be thought to offset (1) and quite possibly be an actual advantage of the PS4's set-up.
(3) Developers need to actively code to get these improvements.
What we don't know is how willing to do (3) developers are right now. As low-level programmers tend to be pretty smart people (modesty aside), they are usually pretty keen to take advantage of new toys and see what they can squeeze out of the metal. However, deadlines, legacy code and all that. It will take a while. Right now, PS4 has the advantage simply because it takes more thought to make use of the ESRAM. However, making blanket and dismissive statements about the memory approach of EITHER console, is inappropriate.
It's a very complex area.
And both PS4 and XB1 are going to be nothing to gaming PCs, as always.