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NightDragon83 said:

See: "law of diminishing returns". So far the 8th gen represents the smallest inter-generational leap in terms of graphics, hardware and gameplay features that we've seen.

8-16 bit went from a handful of colors, tiny sprites and just two buttons to mega sprites, hundreds of colors, mode 7, and 6 buttons.

16-32/64 bit went from improved 2D graphics to fully realized 3D graphics and CD quality sound, more buttons, and 360 degree analog control.

32/64 - 128 bit saw even more advanced 3D graphics, improved storage mediums, and for the first time fully realized online gameplay on 3 out of the 4 major consoles of the gen.

128 bit - last gen saw probably the most dramatic jump in visuals between generations as the Movie, TV and entertainment industry switched from SD to HD, and the online experience for consoles became even more robust and borderline PC-like as gamers could now use their consoles' internet capabilities for so much more than just playing games online. Not to mention the fully realization of motion controls in gaming after years of failed experiments.

So far this generation in terms of hardware, gameplay and multimedia features has literally everything the last gen had, just with prettier visuals. The Wii U is literally an extension of the Wii (it even uses the same exact controllers for multiplayer), the XB1 is the same as the 360 only with Kinect 2.0, and the PS4 is the same as the PS3 only with better developer-friendly architecture. So far we have not seen any major leaps hardware or gameplay wise in the 8th gen as we've seen in previous generations.

Then at the start of the next generation it's 8th gen brought us VR, 9th gen is just a prettier version of VR.
So far, 6 months in, we have not seen any leaps as we've seen during 7 years avg of the previous generations. Patience.

This gen has a smaller leap hardware wise as the previous generation, as xbox 360 and ps3 were ahead of it's time when they came out. with ps4 and xbo we're back on the normal curve.

There are still many leaps to be made. Ray tracing, actually being able to converse with a game character, living worlds, large scale emergent gameplay, organic storytelling, brain-computer interface, touchable holograms. It's still quite a way to the matrix or the holodeck.