People these days are polarized to the point where they think it's always all or nothing. Remember the "post PC" era? Well, here we are, years later, and people still buy laptops by the millions. 

Consoles will be around in different forms for as long as people still have large TV's in their living room. The AMOUNT of them will probably shrink but they will always be there. 

Yeah but im talking about you and mine lifetime...haha :) Not the way way into the future.

There is no doubt that streaming and stuff will be an option, but for at least the next 10 years, normal console usage will also apply. Just look at movies, DVD films are still available even if you have Blu Ray and Streaming..

PC is blending with tablets and mobile. That is Microsoft vision.

There will always be people that want high class quality entertainment that only a powerfull hardware at location can provide. 

The same way movie theater still exists, unless you are willing to spend thousands on your own home theater you can´t get closo to that level of quality.

However, the big money is on people that would be satisfied with tablets and smartphone games.

I do see changes in the next console generation. Nintendo will likely try to attract third party devs for one, and all of the consoles will understand the need for a LARGE launch library to get initial traction.

That said, Sony hasn't declared bankruptcy yet because of the PS4. My money is that they are in pre-prototyping of the PS5 right now.

So he is basing this on a mediocre game? I don't think consoles are leaving, I think they are more just shifting.

Consoles are staying, but does this mean no Xbox Two? .......though personally I think there will be another xbox.

Also, Sony probably won't have a PS6(or latter half of ps5 if that bad) in the market if they continue with ther finance issues, and I don't think Nintendo will be able to do much at that point either if consoles are indeed dying,or QOL backfires immensely.

I don`t think console will go away, but they will change, that`s for sure.
Also, it`s not just a question of hardware. More and more, kids are growing on smartphones and tablets and there, there are no franchises like Mario, Halo or Uncharted. They won`t feel the need or desire to buy those franchises on expensive, only made for gaming, consoles.
I won`t be surprised if MS, Sony and Nintendo, try to bring their biggest franchises to the mobile devices. They will need to build a userbase for their games on those devices aswell.

Between hardware and franchise awareness, the latter will be the one that will probably push the big 3 to those devices and treat them as if they were consoles.

It will be AT LEAST one more console gen before why embrace(or don't) the cloud only future.

He is right.

So basically, consoles will never go away. Thanks Pachter.