This has to go down as one of the most stupid questions the form has seen? surely?
Why are you all talking about comparing a PC to a gaming console? A gaming console is built with set hardware with aims such being affordable to consumers. A PC will is built to user specification and can range from total non gaming to high end gaming.
Taking this common sense into account, PC's will always have the upper hand on a games consoles, this isn't new for Playstation 4, its always been the case.
Playstation 4 is going to be a really good machine, the hardware you are getting for the £350 price tag is excellent. You could not build a PC for £350 that would beat the PS4 and that seems the only fair way to have this debate. High end PCs running games on ultimate settings should still look better with a better frame rate.