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The only sensible release is a new "model" like a slim or something, that has upgradeable components as opposed to what it is now.
Releasing a new console every 3 years will kill the casual market because consoles are not a necessity, you cannot apply the smartphone model to consoles.
Because people use smartphones so much, its a lot easier to rationalize upgrading because you will run into the problem of power or battery life more frequently.
Even with the hardcore gamers, you're going to have a hard time convincing them to get iterations of the xbox when you could easily just get a gaming PC at that point, and just change out cards every 5+ years.



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