So are consoles holding back this game?

[Colorful]

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Something's wrong with me and accidentally deleting my posts, let me make this short... .-.

Direct3D and OpenGL are not the same product and are actually competitors for now, there is no OpenGL DX11.1, that's just not how it works. PS4 uses its own API as stated by Bishop, GNM and PSSL. Modders can't bypass a locked system with a forced approval on mods unless you were to jailbreak your device, but even then I'm not quite sure what that opens up (not to mention it's likely not a simple process, and not many people will do it). As for the consoles getting better overtime, that's not going to happen either. The PS4 and XONE uses the same architecture as a modern PC, one which developers are incredibly familiar with, there is no learning process like there was with the PS3's Cell architecture. These consoles were outdated on release due to the outcry there'd be if they cost anymore than $500 and they've already hit their limit with quite a lot of games. For example, PS4 can barely manage 30 FPS on Episode Duscae while the XONE dips into sub 20 FPS quite often. Expect the next generation of consoles sooner rather than later, unless Sony and Microsoft decide to milk them for all they're worth, then they'll release the "next gen" is 2-3 years time.

Also I'm pretty sure Yoshida said that the PS3 was holding back large scale FATEs/world bosses, although I cannot be bothered finding the article in which he said. Feel free to do so if you wish, I know it was a recent one if that helps. =P

Since they plan on making the game available to nintendo ps3 limitation will be the least of our worries

The NX is likely to be more powerful than the PS4.