Yes. Ripened tools help. Developer familiarity, too. Same thing occurred with PS3 and Cell last time around.
ESRAM is a handicap for now but a workaround will come.
Hardware power is always behind though. Never changing without a complete hardware update. 900-720p will be the norm. The games will be good though, and that's what matters. They'll just struggle more to work on the Xbox One.
I hug you friend Flash. It will get better, I promise.