I doubt consoles will ever run 240fps or even 120fps unless it's a vr title where the graphics is towned down significantly. For most titles, it will end up being how it's always been, 24-30fps while some titles targeting 60fps.
The reason is that console manufactures invest on presentation rather than performance and that is how consoles are generally balanced. When the new generation starts and the cpu improvement comes, the cpu itself won't be very powerful compared to what you would find even on a decent pc. The GPU on the other hand will be plenty powerful (but obviously not like a xx70) unless the console is priced super high.
So the result will be the devs taking advantage of the extra cpu horsepower but still targeting their games at 30fps, just with better ai, people, etc.
The next generation of consoles will be interesting for sure and I will be curious to see where amd lands. As of right now, assuming the benchmarks reflect RX vega and Volta is on the horizon and Nvidia keeps their trend of having their next gen xx70 cards being on par with the previous gen xx80Ti/Titan cards. AMD might end up being nearly a generation behind Nvidia when it comes to GPU performance.
If that's the case, then it will also be reflected on consoles since consoles will use Amd Gpus and the GPUs inside consoles are their strongest component. Still, that's just theorizing and ps5 is plenty of ways away. So no need to really worry about it now.
PC Specs: CPU: 7800X3D || GPU: Strix 4090 || RAM: 32GB DDR5 6000 || Main SSD: WD 2TB SN850