Is that running at max settings on your laptop?
I think you're missing the part where the PS4 hardware will not change, ever, and the graphical settings within the game are fixed so as to have the game run optimally in all situations. If you go to Mor Dhona on a busy server on PS4 I guarantee you'll start to see a significant framerate drop. If SE did anything to improve the graphical quality of the game on consoles you would see an even bigger performance hit in busy areas. It's simply not possible to upgrade the graphics for consoles in a way that will still allow good performance across the board. The console versions just struggle too much already.
The only reason the PC version is getting some minor improvements is because of how much better optimised DX11 is versus DX9. That small performance increase can then be traded back for the new tesselation, lighting and shader features. Not all PCs will be capable of making the upgrade, so those that can't will remain on the DX9 client at the same quality as the PS4 version.
Since the PS4 isn't compatible with DX11 it's simply not possible to make that upgrade.