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So Phil made the comment at E3 that the same team who made the X is hard at work on the next gen Xbox. He says he and his team will once again set the benchmark for console gaming.
This to me sounds like they’re planning on going all out on specs similar to the X. This would almost certainly mean another $499 launch price if he does intend to make a beefy system.

Now after the Xbox one, I’d assume they’d want a more affordable console to take Sony on after having lost the price war early on this gen.
But taking into account Phil’s comment, he sounds intent on wanting a very powerful console for next gen, Price be damned

In any case, things are being set in motion and it’s getting interesting regarding each company’s plans for next gen.