Haha, The article is of high scoring quality. The game not so much!
I would say that they are already doing that for pc games which are in general cheaper, but of a far better quality, so it shouldn't be too much of an ask to make better looking games. Maybe companies that only make for consoles will struggle, but the main boys will still be there
Fundamentally because its not enough to store textures and the like how the developers want to.
If the PS4 didn't have 8GB of GDDR5 ram, the xbox would be the more powerful console thanks to the ESRAM, but the speed of the GDDR5 ram in the PS4 makes it superior.
Pretty basic, and I don't know the full ins and outs of it but thats the gist.