I can't believe that Microsoft would design an eighth generation console that's too weak to play games at 1080P and that's barely stronger than the XBOX 360. There has to be a logical explanation for its shortcomings, which I think is its complicated architecture, specifically the type of RAM that it uses and how said RAM is divided (i.e. 8GB of DDR3 and 32MB of ES RAM). I think the XBOX ONE's current problems are analogous to the PS3's problems during the beginning of its lifetime and that the XBOX ONE will improve as developers learn how to code for it efficiently.
Having said all of this, I am no XBOX fanboy; I don't own an XBOX ONE, but own a PS4 and a gaming PC. I don't even think that the XBOX ONE will ever match the raw power of the PS4, but I do think that it will improve to the point at which it will be able to render most games at 1080P.
Essentially, I just can't believe that Microsoft, a multibillion dollar corporation which develops software and electronics, could make such a colossal mistake. It's simply impossible.