It's pretty interesting. What MS have confirmed is the console is actually weaker than we originally anticipated. Instead of being a 1.31TF machine, it's basically running at 1.18TF.
Xbox One: 1179 GFLOPS
+ 131 GFLOPS =
Xbox One Unlocked: 1310 GFLOPS
+ 530 GFLOPS =
PS4: 1840 GFLOPS
Now if unlocking 10% of the Xbox One's GPU has a large effect on visuals, then I cannot quite imagine how PS4 games will look in comparison to the Xbox One. It's 10% (131) x 4.
It's a double-edged sword. They're trying to sell their last minute upgrades as very significant, but somehow didn't realize that it makes raw specs difference look like a big deal in the process.