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Generations and their timing are generally dictated by leaps in the tech landscape. The next big one that home consoles are aligned for and would justify a new generation is probably AMD's upcoming 7nm APU's. When they're ready for Sony, they'll be ready for MS too, whether that's 2, 3, or even 4 years from now. Their base hardware will probably be the most similar any two competing consoles have ever been, so they'll try to differentiate themselves in other ways. Sony may double down on VR and streaming while with the rise in popularity of virtual assistants I think MS could really take advantage of Cortana, beefing her up and making her integral to the console from the start.