i think that’s true for the living room, sit on your couch experience.
there it seems like a software question. and the boxes are already plenty powerful for all sorts of software.
so powerful, i think it’s hard to see developers completely ditching the current platforms for the next. probably a lot of cross-gen games for quite a while. and the more developers that do that, the less pressure there is for customers to upgrade. at e3, both sony and microsoft focused on “no loading screens” – which is nice, but hardly a revolutionary incentive.
i think nintendo-style: different form factors, blending mobile and home still has a way to go… maybe, for instance, whatever microsoft is up to with minecraft earth.