I highly doubt it. The current gen consoles have pretty weak hardware compared to the previous generation. When the previous gen Xbox 360 and PS3 came out originally, they were pretty competitive with high end gaming rigs. The Current gen Xbox One and PS4 were much more modest. They're more closely matched to mainstream laptops, using AMD 7000 series GPUs and older AMD Jaguar CPUs.
There's actually been a big revolt from gamers and developers alike here in the U.S. over it. Developers are angry because they can't get the console ports of their games to run anywhere near as well as the PC ports. Consoles are struggling to run modern games at 900p and 30fps. Let alone 1080p or 1440p and 60fps.
That's nonsense when ps3 and Xbox 360 came out the first thing i said was "512mb of ram?" My PC at the time had 1gig and it was a year or two old and it was nowhere near being the best gaming pc you could buy at the time I got it.
This gen consoles are much closer to pc than previous ones. That being said any gaming pc would blow them out of the water.
I mean ps3 cell processor was a misstep on some massive scale. And GPS were... eh as well.
All of this is so pointless though, games for consoles are being made with their exact specs in mind, I think it is possible we might end up being highly surprised just how good Elite could look on both PS4 and Xbone, they would have to optimize the hell out of it though and I just don't have much faith in FD when it comes to optimizations. I have a pretty good pc and sometimes Elite drops below 60 fps, and, well better looking games don't do that. I think there is a lot more they could do in that department.