I initially thought this was the case before purchasing the game. A friend and I had a conversation about how well console players can hold their own against PC users and came to the general conclusion that it should be possible. I passed this idea onto the forums where I met a guy who actually claimed to have worked with Microsoft in an attempt to develop a cross platform competitive game.
During their study they had 5 hardcore PC gamers go heads on against 5 hardcore Xbox players. They would have to two groups play against each other, swap sides (PC players on the sticks, Xboxers on the PC), mix up the teams (Some PCers and some Xboxers on PC, the others on sticks). No matter what they did, how they mixed it up, the people playing on PCs dominated.
They eventually had to put such severe handicaps on the PC version of the game that for any self-respecting PC player, it would be obvious and they would not enjoy the game at all. The game was scrapped to say the least.

