I was comparing peak shader throughput, which is 1.23 TFLOPS on the XBox One and 1.84 TFLOPS on the PS4 (0.61TFLOPS difference), but your approach works as well I suppose.Isn't it errr PS4 50% more powerful for GPU alone? Only Xbox can be 33% less powerful.
I'm basing what I said on what I found on AnandTech:
Microsoft can’t make up the difference in clock speed alone (AMD’s GCN seems to top out around 1GHz on 28nm), and based on current leaks it looks like both MS and Sony are running their GPUs at the same 800MHz clock. The result is a 33% reduction in compute power, from 1.84 TFLOPs in the PS4 to 1.23 TFLOPs in the Xbox One.
...although now that I think about it, I phrased it in a somewhat misfortunate manner.