There's no doubt there's gonna be a next generation with new console boxes that provide better graphics and what not.But we're seeing new tech coming out which might suggest 1 box isn't gonna define what 1 console is anymore:

-Mid-life console upgrades

-Dynamic resolution is already a thing in current gen, and will become more prevalent with the PS4 Pro and XBox Scorpio

-The Switch charging dock is rumored to provide better performance

This all seems to be small steps towards whats going to become the future of consoles going into the 20s. The concept of the mid-life refresh doesn't seem to have been planned at the start of this gen as the PS4 Pro requires patches to upgrade older titles and will even clock back the hardware for running non-patched titles.

Imagine a PS5, a box like you'd expect, then comes the Pro version a few years down the road, automatically maxes out all games, from launch thanks to scaling.  There'll even be standardized options which let you choose different configs. A concept we see today in PS4 games like Nioh, RotTR.

BUT

Scaling also enables to go smaller, imagine tablet PS5 handhelds, lowering res and performance. All your digital library in your hand, no discs needed.

It's all speculation, something that's at least ~6 years away but I expect both MS and Sony to go this road, MS can fit the Xbox brand in the Surface line-up.

If they can get it right, it's the rebirth of the handheld gaming industry.

It always was but the jump to different tech was the reason console gamers didn't have any benefit of it.

This.

Though I don't know if they deserve the benefits when they start complaining as soon as they have them.

Yes, I think this will be the new norm; tech is moving so fast right now that HW gets old as soon as it hits the market, which we clearly see in both the PS4 and XB1, and which is why we're now getting mid gen upgrades. I also think that this is a consequent of last gen being so long. The question now is, will we see a PS4 super pro/PS4.75 before we see the PS5, or will PS5 be compatible with the PS4 pro games?

If they keep one line architecture it may happen, the issue is they need to plan it very carefully to not ending up in a situation of too many different hw that will eat the close to the metal advantage.

I'm too tired to go deep into it right now, but you are absolutly right. Scalable hardware from Mobile x86 PlayStation Phones, to $1000+ Premium PlayStation Home computers are where things are heading. New hardware will be rolling out every year from now on, and it is going to cause incredible competition in the hardware market, and greatly reduce stress on developers as half a dozen or so devices take over, and they can shift their focus completely to these optimized and effecient systems.

I hope the OP is right. More scalable just like the PC world is an awesome thing.

Anger is for some an easy response for what they don't know or understand. They will come around.

To OP, Ive been singing this song for a while, even before rumors of a PS4pro. It makes absolutely zero sense for platform holders to hit the reset switch every 5-7yrs. No sense what soever . In the past it was a necessary by product of the kinda highly custom and proprietary tech that were in consoles but not anymore. 

Software scaling is going to be the thing going forward. The og PS4 will probably stop getting games sometime around when the PS5pro is released and by then the og PS4 will be an at least 10yr console. and for threes years before that time it won't have even been sold anymore. I see something like this...

• 2016> PS4pro
• 2019/2020> PS5 release, PS4 discontinued, PS4proS released
• 2023> PS5pro released, PS5s released, PS4pro discontinued and software support for PS4 family of systems limited mostly to PS4pro
• 2026/2027> PS6 released, PS5proS released and complete drop of PS4 family of systems. 

Its not going to ever be every year. That kinda business model only works if you are trying to remain in a specific price point. Eg. $500.

If sony and MS want to sell consoles for no less than $500, then every year they will have to make sure they have $500 worth of console. That used to be by throwing in games and increasing HDD sizes. However, building a larger install base is more important than selling at a higher price of entry. So dropping the price of hardware is more important. 

But also, retaining the user base is just as important hence why we are seeing mud gen revisions. So now we get the i introduction of new hardware and also "new old" hardware at a lower price. 

Then the cycle to bring prices even lower continues. 

I expect going forward PS5 or even Scorpio to provide multiple performance profiles.

-1080/1440p60
-4K30
-Other resolution and fps combinations if 4K is too taxing with certain games

I also hoped to see this gen, when we pop in our PS4 discs in the Pro, the game automatically scales in performance after a benchmark and gives you options to play cinematic or smooth. Instead of waiting for individual patches.

When the PS5 comes it'll be an even bigger performance upgrade considering the chance of PS4 BC with PS5 is great due to the architecture. That means no more remasters unless it's a remake.