Nah, I bet it's 2020. PS4 is still selling like hotcakes. Maybe late 2019, which would put updates every three years. I still think three years is too close. Four is the sweet spot, imo. It gives each iteration room to breathe while allowing tech to advance enough.
A lot will ride on the reception of Pro/Scorpio.
Scorpio will likely give MS a short term boost but a lot of that will depend on pricing, if that thing is $500 or over it really will only attract the enthusiast gamers who are ride or die Xbox fans. Given it's specs on paper I want one too but I won't pay $500 for it, if it's over $399 I'll wait until it comes down to that price. I already have a Pro and MS exclusives don't interest me in the least, from what Spencer said the other day they are going to be investing more in 1st party but it sounds like that investment is geared more towards MP games which aren't usually my thing either. I also think some here especially are acting like it's a replacement for the Xbox One and it's not it's an extension of it. Spencer even says the X1s will be the best selling console in the Xbox family for years to come so they don't expect Scorpio to be like a new gen launch.
I have no doubt 3rd party games will look better on Scorpio to some degree than they do on the Pro, they should given the extra memory and GPU power but if it's price is so high that it puts it out of range and it doesn't come down quickly they run the risk of Sony announcing another console that eclipses the Scorpio in power and people like me will just wait for that. After all that's what MS tried to do to Sony by announcing the Scorpio a year and a half before it was going to be available, they just wanted to take away as much hype from the Pro as they could, it was a smart move but it's not like they are the only ones that can do that.
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