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Risthel said:
Don't people remember for how long we got cross-gen games because publishers still didn't feel comfortable about leaving the PS3/X360, even after eight years? What makes you think that publishers and developers would be willing to make new versions of their games every three years for consoles that would sell to few Xbox fans?
To answer your question, if Microsoft wants to be hated by consumers and developers, yes, it makes sense.

Developers just have to make the game once just like on PC, the same game will just look better on the newer console.

Developers will build there games with forward compatibility in mind as phil mentioned.