Bayonetta 2 wouldn't be possible on 7th Generation consoles without being downgraded on multiple accounts. It is very noticeable steps above that.
This breakdown from 3Dude on another site is an outstanding truthbomb. Although he didn't mention that the content is also displayed on the GamePad, I LOVE that he threw in God Of War: Ascension, too - a game from a first-party studio (Sony Santa Monica), released very late in the PS3's lifecycle, and with a bigger team, higher or comparable budget, and years to perfect their craft. It is also worth noting that when Bayonetta launched in North America, the X360 had been out for 4 1/2 years, and the PS3 for about 3 1/2. When Bayonetta 2 launches, it will be within the first 18 months of the Wii U's lifecycle - So, up to a third of that time. These are some of the reasons why I passionately disagree with EatChildren and Necroscope's comments.
Still, There is enough out there to kill this concern with fire and holy water once and for all. There's the fact that Activision are supporting it with the 8th Gen treatment (COD: Ghosts will have the new engine). We know that Crytek's New CryEngine will be supporting it, too, while NFS: Most Wanted uses PC assets. Unreal 4 is possible, but there are no plans, and even Luminous is, too. Then there's Project CARS, and the fact that there are games doing things which weren't possible on 7th Generation consoles. It will be fine next to the XBox One and the PS4; the differences at the very worst are more Dreamcast VS XBox, i.e., not THAT much, and at this point, not enough to bother Wii U owners.