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Well, to be honest I was joking when I said virtual reality because when I read next generation I thought of Star Trek: The Next Generation.

Even so, this Generation might last a very long time. And like you said there has to be a reason to buy a new console.

Come to think of it a truly good reason to buy a new console would be if it gave you more control over your video game purchases. The ability to share, backup or swap all your games would be a nice start. Then the ability to pay a small fee for level or chapter of a game as opposed to the whole game.