Depends of whether or not the whole Fusion concept (same games on console and handheld) is true or not, and do they want 3rd party multiplat support on their home console in next gen or not.
If yes, then they will need beefy GPU inside console (and handheld, cause of Fusion), so I don't think anything less than Tegra K1 (nVidia Shield Tablet) level performance will be enough.
Fun facts about Shield Tablet:
- up to 327GFLOPs (when GPU is pushed to limits and runs at 852Hz)
- drastically faster than Vita, some 8x (haven't seen any direct comparisons though, doubt they exist, but data is extrapolated from iPad 3 performance which has pretty much the same GPU with slightly higher clock)
- $299 price tag
TBH, if they are going with Fusion AND multiplat support for next home console, I think even K1 is not enough, more like 1.5-2x K1, but let's wait and see.
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