Mr_No on 08 July 2014
As long as the consoles keep selling and the flow of good games isn't interrupted, console gaming won't go anywhere. It's that simple. Besides, people don't want to buy a console every 3-4 years for a slight graphical improvement, especally if they haven't got their money's worth with the previous one. Releasing a slightly more powerful console in a short timespan will be fatal to a company, not to mention how defective and unreliable the system can be if rushed out to the market.
