I’m curious about that too. When the PS4 Pro / Xbox One X came out, I think the console makers were talking as if this “intermediate strategy” was going to be the new normal. But at the same time, its release was mainly a way to make up for the difference with the PC without starting a whole new generation. In other words, to participate in 4K, HDR and some other innovations. An advantage for the gamer was great compatibility of games and accessories between PS4 and PS4 Pro, but the PS5 is also very compatible so a generational transition no longer works like the one from the PS3 to 4 for example. The PS4 Pro may well have been a choice that only worked out well once in the particular state of things at the time.
4K only became more realistically feasible on the PS5 and even then, of course, not a full 4K60/120 with the most beautiful images of today. A PC of today can barely achieve that as you indicate.
However, the power of the PS5 seems to me to be enough to provide good playability for quite a few years. With some help where necessary from checkerboard rendering, 40 fps VRR or other performance mode, and with slowly a limited lag compared to the highest achievable in terms of graphical splendor. To a certain extent that is not a problem because a console is fairly reasonably priced and previous consoles were no longer the best in the later years of their generation. As long as the games keep up and the consoles continue to sell, a generation can last 4, 6 or even 8-10 years.
If I had to guess, I’d say there’s “just” a PS6 coming, roughly 6-8 years after the PS5’s release. Developing games now takes more time, which would make a console generation of 3-6 years rather short. Game devs would then only be able to release 1 or 2 games before the next one is out. A hypothetical PS6 can also be compatible in terms of games and/or accessories, which we also saw with PS5. So for compatibility it doesn’t matter much anymore whether it’s a half or full step.
Sony wants to make money, but they still make more from the game sales and services than from the hardware. So I don’t expect a quick replacement of current consoles. But we’ll see.
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