I was 360 last gen and PS4 this gen, right now I see myself sticking with Sony, backward compatibility is a big factor especially if we can see framerate boosts on PS4 games.
I was planning on staying with Xbox this gen, but the reveal focused on TV and a $500M deal with the NFL, then all the DRM shit and forced Kinect pushed me away even further The final nails were that I had lost confidence in Halo after Halo 4's campaign was so bad, Epic wasn't gonna be making Gears anymore either, all the Japanese focus was gone too, and then the fact that the box looked like they threw something together at the last second in a big ugly DIY HTPC case that looked like an 80's VCR and had the nerve to have an external power supply, then it was $100 more than PS4 and the early reports were that it wasn't as powerful. Pair all of that with no backward compatibility at the time and making the switch to Sony was a pretty easy decision, especially with all their quality 1st party games.
I didn't even buy an Xbox this gen whereas I did have a PS3 last gen though I didn't really use it much until the end of the gen.
I just have zero confidence in MS at this point. I really like Phil Spencer, but he just hasn't delivered since he was promoted. Scalebound and the Phantom Dust sequel were cancelled, Crackdown 3 looks like a 360 game and has none of the impressive cloud physics promised. There was just nothing this gen on Xbox where I was like "damn I wish I had an Xbox to play that game". The only thing I slightly missed was the Forza series which puts GT to shame in my opinion., but I'm not a huge racing fanatic so I was able to deal.
Sony would have to fuck up big time or MS would have to announce something incredible for me to even consider switching back. I see neither of those things happening though.