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Half Generations exist. Deal with it.
But the concept of Generation is most useful when there is competition within the generation.
When that doesn't exist, there isn't really 1:1 competition, and the term becomes less relevant.
The unmentioned question is what MS is going to do: nothing? match Sony? wait a bit longer and out-do Sony?

re: talk of full compatability with PS4, that is current Sony policy (supposedly), doesn't mean it will last forever.
When PS5 comes out, do you think all the initial "cross-gen" games will fully support PS4.0, or just PS4.5? Come on.