Tflops are a bit misleading because it's an AMD card. They tend to have much higher TFLOPS than Nvidia but lower FPS. I'd wager it's at best on par with a 1080. A 1070 TI at worst. Still, it's a huge leap from the OG ps4 and still a nice leap from the pro/one X.
Add on the optimization a closed console system gets and next gen console games are going to look pretty damn good.
Fully agree - what I take from the latest game talks and hype is that we can expect solid 60 fps gaming in 4K. None of the previous consoles were powerful enough to really drive 4K 60 fps - could be fun to add a PS5 to my Sony 85" 4K 100Hz (maybe 120 Hz for games, haven't checked that out) tv - because you really need 4K for the large TVs. My screen automatically should turn 60 fps into 100/120 fps/hz (due to Sony XR MotionFlow 1000 Hz), of course real 120 fps might be better, but this could be interesting for pancake gaming. Then again, don't what the kids in the couch all day, lol.