It's probably so, unfortunately. It's not a graphically impressive game, but it has some pretty steep spec requirement on PC, and performs pretty badly on good hardware. These days, when that's the case, you can expect the console version to be equally poorly optimised.Reading a fair few complaints on Reddit about the performance on console. Say it ain't so.
Gearbox also has a history of this. BL2 ran like absolute shit on PS3/360 on release.