I was starting to worry we woudn't get a ps5 in the same 6ish year cycle. Of course it may be fall 2020 but now theres hope;

I buy a console exactly for this reason. I'm not interesting in upgrading to a piece of hardware thats still does the same as its predicessor. If I wanted that, I'd build a PC and have much more freedom. I have no problem if lifecycles are 4-5 years, but give me a new gen of hardware. 

If Playstation 5 and Xbox 'Two' are backwards compatible then there are gonna be some real disappointed people on here... "DAMN IT I so wanted these machines to be next gen ARRGHHH I'm now going to have to pull out my hair in frustration!" *nerd alert*

you mean?

What he said!

Thats true but old consoles don't last forever nor do the discs/cartridges. Also having the old consoles takes up space and the cables become messy. It is just way more convient to have one device that does everything rather than multiple devices that does their own thing. Plus PCs can emulate console games as well and it also can have a wide variety of controllers. Heck, emulation can also have better framerate on games that didn't have them before.

But I am not thinking that a console should be able to do all that. I just want one device so that I can trade in my old console in order to save some money for my new one! So like trade in a ps4 for ps5 which = $200 off or something.