Please check this video of mine I took for you.
http://youtu.be/GFc5nwaon5k
Notice how:
1) During the first seconds of the clip, the tip of the cone loses alignement with the center of the lightbar as you push the controller towards the PS4 camera. Then it re-alignes as you pull it backwards. Not a big deal but definitely not a Move-like behaviour. I'm not sure why this occurs. Perhaps it's due to the fact that depth tracking is executed using stereo data provided by the camera rather than by measuring the size of the lightbar.
2) The rest of the video shows how (badly) you can fuck up the tracking in a matter of seconds. Of course, it doesn't get *that* bad during normal play, but you can tell the tracking is accumulating errors over time. And it doesn't dynamically "auto-fix" (which the PS Move tech does).
Of course it's better than Wiimote+ (which is limited by the narrow FOV of its camera - had it been 180° it would be closer) but it's nowhere near the PlayStation Move IMO.