I think for some games yes, titles which work within the current current standards of assets but with lower compression and less optimisation, sure. for games which wish to push the boundaries and not just look like high end PC versions of 2011 games I think budgets will increase.
-Most developers for gen one of games will fit into the first category
-Only a few select will fit into the second scenario (massive devs: dice, square enix, capcom, 1st parties)







