Are there any benefits to shorter lifespans for consoles?

[fatslob-:O]

SvennoJ said:
Shorter life cycles are good.
- Excitement of new hardware with new possibilities. (Half True)
- Room for innovation and new IPs. (True ?)
- Level playing field for developers. (False)

Longer life cycles leads to
- Stagnation and sequelitis. (False ?)
- Established game engines that push the machines to the max leaving little room for experimental game play. (False)
- Harder for small teams to break into the market. (False)