I think I will try to explain how I feel about the conferences for once:
Sony
They showed a great many games, a handful of which were surprises, but many that were expected or well known. However, in ADDITION to the games they showed, they spoke of their services, PS+, PSN features, TV integration, and one or two other things which I'm sure have eluded my memory at the moment. The only problem I had with the presentation was its format. As others have already stated, the presentation dragged when the TV segment rolled in. That part was boring. I attribute the negativity to the way the presentation was setup. It could have been better. But showing more does not mean you suddenly showed less, which is what some people are taking away from the presentation, which personally doesn't make much sense to me. It was a combination of games and services.
Microsoft
"Only games" was the motto, and they held true to that. That's great, I can't take that away from them. That's what a lot of people wanted, so good for those who only wanted games. But what about the ecosystem and XB1's future? I didn't see any additional features being touted. In fact, they just dropped their biggest differentiator, that which is Kinect. Personally, the only XB1 exclusive I would like to play is Ori (and possibly the Halo Collection as I've never played it before but would buy an XB1 for it now). But that's just me. Many people really enjoy the exclusive titles coming, and that's perfectly fine. Everyone has different tastes and opinions. But as Microsoft begin to focus more on games and become less of an all-in-one entertainment system, especially after dropping the mandatory-Kinect, I become less inclined to buy it over a PS4, especially since the PS4 is not only bringing its own exclusives on top of better performing multiplatform titles, but other services as well that integrate Vita, PSN, PS TV, and the future Morpheus.
I really feel that Microsoft's focus on entertainment outside of gaming actually helps; it's the focus on TV more than games that becomes the problem. Now that they've gone to the other extreme, I don't think they have much of anything to differentiate them from their competitor(s), aside from some exclusives, of which both PS4 and XB1 retain, and we all know that the multiplatform games are going to perform better on the PS4. Sure, I can still create an all-in-one entertainment system for myself if I go out and buy the optional Kinect, but because they've now made it unnecessary, support for it will dissipate. And the few exclusives shown that appeal to me from XB1 do not warrant a $399 purchase. For others a game or two sells a system, but I can't afford to do that. If I could, admittedly I'd buy one right now because of the Halo collection and Ori, but the reality is that I can't. On the flip side for the same price, I find more exclusives appealing on the PS4, and they are bringing more features that I could appreciate should I choose to buy it.
Edit: Also, I don't mean to offend anyone. In the end, it's up to personal preference. Solely based on games, I don't think any one is better than the other. Sure, one may have more or less exclusives than its competitor, but it all comes down to preference. You enjoy what you enjoy! My taste is no better than anyone else's.