I have had a PS4 since 2004 (OG model first, before upgrading to the Pro a year ago). Overall, I've been happy with my choice. The line-up of exclusives on the system is insane, but I do have a few issues, mainly with the PS4 Pro: no 4K BD player and how it's more powerful than the base PS4 but not enough to support AAA games at either 2160p30 (most games are 1800p30, checker-boxed 4K) or 1060p60 games (most games get 1080p with 40-45 fps).
I also hate how Sony completely ignores BC support... this, especially after seeing how insanely good Red Dead Redemption looks on an X1X. And for other games which didn't get the level of polish the RDR BC patch did, they all run better on the X1 and X1X. I get the argument of "you didn't buy a PS4 to play PS3/2/1 games" but to me, it'd be a nice feature. Instead, your options are to get PS Now (which is garbage) or pay for HD remasters.
MS started this gen doing pretty much everything wrong but they've made strides whereas Sony's been slow to make progress in some areas, if at all, IMO... except in games. MS, for whatever reason, does not have that must own exclusive whereas the PS4 has tons of them. For the tired and true like Uncharted 4 to new series like Horizon which I did not expect to enjoy as much as I did.
My advice is to get a base PS4 (not the Pro), since they can be had pretty cheap (I think some bundles were $200 last year). If money isn't a major issue, then the Pro isn't a bad option and I'll say some games still look stunning in fake 4K. As it stands, as much as I love BC, there just aren't enough other reasons for me to justify the X1X. VR is another reason why I'd say PS4 over X1X. PSVR isn't all that great and only has a few games, but it's actually really cool and cheap compared to some other options. I can see VR playing a bigger role in the next year or two.
I was thinking about picking up an X1X due to GPU prices but ultimately decided against it since there really wasn't anything on PC I was dying to play.