yeah 8GB of GDDR5 ram is all its cracked up to be, many ps3 games are not even 8 GB so devs could load an entire game into Ram and access data from it faster than from the disc/HDD/Cloud(that last ones gonna be slow unless u have low latency Internet). Of course we don't know how much of that ram will be reserved for the feature heavy OS, but even if its half(unlikely) that's 4-6 GB of ram just for the games. Also the AMD Processor is highly compatible with GDDR5 chips.
What we should be criticizing, is the Plan to go with x86/x64 architecture for a "gaming" console.
It's great for Devs porting PC games using middle ware, great for GAKIAIs server compatibility, and its technically an up-to-date Jaguar AMD version.
Still this is outdated architecture cria 1978, built up, using workarounds to achieve boosts in performance (multiple cores, hyper-threading, that Jaguar tech mentioned earlier), its designed to maintain compatibility with Intel programming. There are better forms of architecture out there for Running Video Game Code, just look at what has been done ARM architecture on android/ios devices/3DS Resident evil. This is also why its not BC with Ps3. This also means Cell Architecture in the PS3 that Sony went further into debt for was a waste of their time, and money, even though they could have updated Cell for PS4.
Being realistic its the way these circuits will be connected with the GDDR5 and the GPU that will make a difference next gen.
Why switch to something new for a potential performance increase of how much exactly, 10%? 25%? Even 50% increase in performance wouldn't really justify the huge learning curve for most game devs to get it right. Oh and 8gb of ram/vram fills up way faster than you might think.