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Ljink96 said:
I don't think innovation and Playstation really go together these days. They're just improving on tech which is hardly innovative. What you're describing essentially...is Nintendo Switch. And tbh, we don't need another console in the market. It's already an iffy market right now. Naturally, competition is seen as beneficial but not if it's just a clone console which is essentially what it seems you want. I think we're fine the way it is.

Devil's Advocate: What about VR?

I mean, I think VR is a waste of time (from a mass market perspective), but I give Sony some credit for trying to make it mass market even if they've made the wrong business choice.

On topic: I don't see a direct competitor to Sony making sense.  There's finite resources to build "AAA" games and you've already got Sony and MS tying a ton of those up, plus Switch may be shifting the market towards hybrid consoles, similar to shift from PC to laptops and tablets.  It would be fun to see, but I think the outcome would be ultimately disinteresting doom for the new entrant.