Xbox One, what are your thoughts?

Today marks the official release date of Microsoft's newest generation game console named Xbox One. This is the competition for Sony's PS4, or is it? I ask because there have been rumors that Xbox One is going to become a flop due to programmers not liking the hardware and the initial rules and processes that the new console was going to require such as the always on feature. I've seen the console, and personally it looks like a VCR on steroids. However, the UI of the system is smoother and more streamlined than the Xbox 360 has today. (I still miss the blades). What are your thoughts on the new system and are you planning on buying it yet? Leave your comments down below.