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There's a big problem with this.
Unlike many people, I don't think the PS4 was "underpowered" (often said in comparison to 360/PS3 in their time) right out of the gate. And there's things to be said about that, but it's another subject so i'm gonna leave it off of here.
HOWEVER.. If you ask me if both PS4 and X1 were too weak to jumpstart an iterative generation like it looks we're going to get, then the answer is definitely yes. If this was the plan all along, then both Sony and MS needed a better base model than the one we have now. Yes, they'd have been more expensive; too bad for them, suck up the cost, like people have to suck up being surprised by these moves after they already spent money.
In short, a generation like the one people are talking about right now needed better BASE models. With these, don't expect it to work well at all. It won't benefit anyone.