Currently Online 
Fairly simple answer.
The game patch for the upgraded res/fps etc, costs $5, per game, and stays at that price for good. If you can spend the extra cash on the better console, you can spend the extra on the games as well. Now the devs have all the reason in the world to make a low and med/high setting to fit everyones needs.
If you don't have enough extra to spend $5 on the patch, then you need a serious wake up call and attitude adjustment, period. Its like trading in your sports car for the new model, and getting the upgraded engine package at the same time. Well when you find out the oil they use is the same generic stuff, to bad so sad. You want the better oil, you can pay for that upgrade. You want the better washer fluid that will never ever freeze, pay for the upgrade. The average person don't need those fancy extra's and doesn't want to pay for them and shouldn't have to.
There is also always the option that all the rich gamers can subsidize the poor gamers so everyone can upgrade. While that would solve the problem as well, thats never gunna happen.
Essay Pro