The specs haven't even been released yet, the average person is going on speculation and rumors. Meanwhile professional publishers that HAVE actually gotten info straight from NIntendo are getting excited about it. Still, I'll wait for the opinion of the major 3rd party guys like Konami, Capcom, and Square/Enix. They're the ones with exclusives that have really swayed things in a system's favor. One of the rumors had Final Fantasy 15 landing on Project Cafe. I have my doubts, but if that turns out to be true, Nintendo really could have a new SNES on their hands.
As far as competition...well I don't see MS going anywhere, but I'm not sure how well Sony will do with their next system. They lost a lot of reputation over the past few years, and they've always been dependent on 3rd party exclusives. On top of that, every Playstation has had a new type of media player as a bonus. CD, DVD, BluRay, but what are they going to have in 2015, BDXL? It's not really a necessary format so far, especially for games, what's going to be their selling point for PS4?