Is it impractical? Yes. How badly do you want to play Titanfall? If there's only one game on your radar for a specific console I don't think it's worth it. What else are you looking forward to on xbox? Why did you initially decide to get a PS4? What's on your radar for that console? It's not like you can't sell a console if you don't feel it was the right choice....nothing is set in stone.
As for your backlog, what I did is make a notepad document with every game in my backlog and so far I've finished 10 different games in 2014. It's kind of like a mini challenge to update the list as much as possible :)
I got a PS4 because it was the cheapest/best way to play Battlefield 4. Dead Rising 3, Titanfall, Horizon 2 if its real and possibly some Halo. I think I'm going to end up buying One. >_<