Not entirely accurate. As far as CPU goes, consoles use AMD. An Intel running at a lower clock speed (even up to 1GHz) will be better than an AMD running at a higher clock speed. Not saying Intel is automatically better, as AMDs tend to run at higher clock speeds, but something to keep in mind.
Also, you can't directly compare console specs to pc specs. You're looking at a custom-built AMD APU (basically a CPU and GPU combined). You can't compare a GPU to an APU.
As far as RAM goes, I imagine anything above 8GB will once again be overkill. However, we might see that now, rather than 4GB, 8GB is the new expected.