Isn't the rumour that the PS4K will have something based on a polaris 10, which is 980ti level iirc (polaris 11 is the small one)
http://www.eurogamer.net/articles/digitalfoundry-2016-sonys-plan-for-playstation-4k-neo-revealed
http://www.eurogamer.net/articles/digitalfoundry-2016-top-ten-picks-for-ps4-neo-upgrades
All the Digital Foundry articles point to 970 levels of performance (or a slightly more than 2x boost in GPU, with a relatively minor 30% uptick in CPU speeds).
It's equivalent to the lower end of the high-spec PC parts available right now, not the upcoming 10** models.