I think next gen will be about software dev tools, physics, facial animations, loading speed etc. to improve immersion. The games are visually quite impressive already on todays hardware (Pro and X), and bringing in 2...3 x power and using it just for more resolution or framerate is not big enough differentiator. Has to be something else.
Sony is clearly going for a "console centric" strategy, while MS does seem move towards "windows & cloud" strategy for gaming. This really leaves the XBox console into a niche position, as MS will not have console exclusives. In this strategy, the price of the console is irrelevant, as the PC will be the main market for MS, and it makes it easier to go for expensive but most powerful console to push sony in backseat for 3rd parties. At least on marketing perception level.
