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Do you really think MS and Sony can afford to reboot consoles and release "next gen" after this next gen? Apple and Android will kill them if they do that in 7-8 years. I am not saying we won't see new hardware, but I don't see it defined by generations. We could have yearly hardware cycles for consoles with updated specs like we do on the smartphone side or we could have these single consoles for the next 20 years...

I really don't see this gen being replaced by a fresh slate of brand new hardware and software running it that can be referred to as "next gen"...ever. At least not on the Microsoft side...