In February, the developers stated that "the development machines used at Capcom have Geforce GTX 680 and GTX 590 GPUs", although "the demo can run on a PC with an NVIDIA Geforce GTX 570, 8 GB of RAM, and an Intel Core i7 CPU". Some of you may have missed this.
Nevertheless, I think they are doing an admirable job porting it to the PS4, and in my opinion, technically unchallenged in console terms, particularly the fire effects using fluid dynamics.
PC
PS4
I'm not expert but...
The devs used pc specs of what they though the optimized game on PS4, after coding to the metal, would look like. These are only assumptions because they lack information or have no experience on the new console, hence it may look worse than the predicted or assumed "Target Render". The PS4 turned out not to be as powerful as they thought. Mind you, the game still looks beautiful, but the Feb demo was a wet dream. The game that was shown at Feb was basically at concept stage.
Having said that i'd like to make a small correction to you, PS4 devkit =/= PC and certainly would not run on a puny 570( what I have and fail to max most games) with that type of visuals and 1080p.
PC runs windows and they need "layers" or api's to make the game functional on PCs with different specs. This lowers performance not to mention most people do not have 680's or better, so a similar issue that happened with Crysis in 07 will happen, maybe bigger.
Feel free to correct me.