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vivster said:

Why would a 3 year cycle lead to stagnation in sales? People will still buy consoles if they need them. If Sony and MS lift the restrictions for game developers they have the power to decide on which consoles they would like their game to run. If they want more sales they will not neglect the older consoles. And just like that we have a very healthy console industry with choice for consumers and developers abound.

3 years is still a very long time.

I personally don't mind revisions every 3-4 years and I will likely be buying a Switch, Scorpio and Neo next year but a big new generation hype train is needed to grow the industry or you will eventually just be left with a limited group of hardcore gamers.