GTA VI hasn't released yet on account of hardware getting too powerful. It's taking forever because Rockstar has been content to milk GTA Online for a decade now.
I know Rockstar also had Red Dead Redemption 2 released in 2018, but GTA VI would've already been released by now if GTA V wasn't such a cash cow.
Skyrim has been milked extensively, and Elder Scrolls Online is a thing. Those have made Elder Scrolls VI take forever, not powerful hardware.
Atlus has been content to milk Persona 5 and other Persona games (including a remake of 3) instead of giving us Persona 6. Again, hardware is not the issue.
Keep in mind that Super Mario 64 and Super Mario Sunshine had 6 years apart, so I don't see how no signs of a new 3D Mario game after 6 years is particularly troubling. We're almost surely getting it in 2024 or 2025.
It's the ambition and vision of the devs that often cause the problems, not the power of the hardware.
Lifetime Sales Predictions
Switch: 161 million (was 73 million, then 96 million, then 113 million, then 125 million, then 144 million, then 151 million, then 156 million)
PS5: 115 million (was 105 million) Xbox Series S/X: 48 million (was 60 million, then 67 million, then 57 million)
PS4: 120 mil (was 100 then 130 million, then 122 million) Xbox One: 51 mil (was 50 then 55 mil)
3DS: 75.5 mil (was 73, then 77 million)
"Let go your earthly tether, enter the void, empty and become wind." - Guru Laghima