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Dark_Feanor said:
That is the first time I see so many people underestimate the capabilities of a next generation console.

It seems you are getting the wrong lessons from Nintendo Switch so far. The Switch is a completely different class of product. It is not a direct competition for the high end consoles an PCs. It might not even be a competitor for tablets and smartphones, because of the lack of media capability hasn't affect its sales.

There is a market for high fidelity high performance graphics. Fortunately those consoles are so close to PCs that upgrades are almost trivial.

The PS4 and the Xone were built with 2011-2012 CPU and GPU, Pro and X with 2016s. Don't let the inflated gpu prices full you. There are room for a 12-15 Tflops machine costing $500 launching in 2020.

One thing one has to consider though...Even in 2-3 years not even 50% of people will own a 4K TV or will have the possibility to get one, additionally to their shiny new 4K console.

Are 12-15 Tflops really needed for a highly detailed 4K/30 performance?! 

I still think 10-12 seems possible for PS5, but higher Tflops would be more needed for VR than for 4K imho.