For $100 cheaper it's a game console that most of what I read says is a more powerful platform and doesn't have the same DRM restrictions. Microsoft would have to rename the One to the 180 and backtrack on half the things they've established for the thing.
Most of what they announced is going to be on PC anyway, so the only game I'm kind of bummed about is Dead Rising 3 (assuming that it doesn't hit PC later). I like my consoles and would normally buy both eventually, but I'm just not seeing any reason as to why I would want a One. Even the name is annoying the crap out of me when I try to write about it. Xbone? XB1?
Console Wars are pretty stupid, but that's when it's a sort of Coke/Pepsi thing. For this new stuff it's like the competitors aren't even in agreement as to what market they're fighting for.