Thought about this myself, many many times.
Whether the Cell has peaked or not, we just don't know. There are very few developers that can make proper use of it and those are Sony's best first party studios.
The easiest thing for Sony to do would be to continue to use the Cell for the PS4 and put in more ram and better gpu...etc. Would be great for PS3 backwards compatibility. Developers don't like the Cell though. It's too complicated. Sony got away with complicated architectures with the PS2, but the competition from Microsoft is too much this gen and they need to change their strategy.
So Sony is instead building a developer-friendly, affordable console that will last 7+ years again. This is the best thing they can do for themselves, and for us.
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