This is a fucking terrible idea. Consoles are not smartphones that you can carry around and show off to friends and enemies as a status symbol and as an everyday gadget that improves your quality of life. They are gaming hardware that we turn on at home and don't even think about when we're not using them. They are also mainly for games, not for any other function which come as a bonus and a convenience for when you are actually using a console. Hence the motivation to spend 400 or 500 euros/dollars every 3 or 4 years on an upgrade isn't there. When we game, we just want it to be there, ready to go. Not having to worry about whether it'll play the newest game is a benefit that will be lost if they go the Apple way. Do not support.
That's the thing though. The old model will still be supported with content -- just like the old model(s) of iOS devices.
Hence why I pretty much said in my previous post (on the first page of this thread) that compatibility will greatly determine how well this plan will work out.
If you are going to get the same games that the "new console" people are going to get, and devs wouldn't have to put much effort in bringing one game to both consoles, then this plan may work out.