I think the PS4 event was much better. At worst, the reaction to that event was "meh". At best, it got people excited. The Xbox One event reactions seems to range from "shit" to "meh". Not the reaction Microsoft wanted, most likely.
At the end of the day, it's because PS4 focused on gamers and (to a lesser extent) developers. For example, the integrated PlayStation Eye was mentioned once during the tech specs, but never mentioned again because they know most gamers don't care about it. While people are going to mention that hardcore gamers are in the minority, the fact is that the people who are going to pre-order these consoles or pick it up day one are hardcore gamers. Their impressions are going to generate the buzz that will impact the decisions of those less in the know. Microsoft has to do damage control, fast. I think it's clear that Microsoft had no clear message going into this event. The number of contradictory statements being issued/reported are staggering.
BTW, while I am a PS3 fan, I am no fanboy. Sony has been very hesitant to say if there is a strategy around used games. I bet they are waiting to see the reactions from Microsoft's event before they make a decision. They must be seriously considering something similar for the PS4, even if it's just to appease developers/publishers. I'm also curious to here about changes to the PlayStation Network. Again, there is still time for Microsoft to fix their image and plenty of time for Sony to drop the ball. I can't wait for E3, just to see what happens.