I think the crucial phrase that quote turns on is "all different games." What will eventually sell a new console generation, besides "it's the new console, buy the new console," is what those different games are. In other words, what does the additional power (and its associated price) grant me? Is it improved graphics? Besides 4K and HDR, do we need a lot more right now? If it's not improved graphics, what else gets better? If incremental upgrades aren't enough, what's the revolutionary new thing (be it hardware, game genre, etc.) that convinces people to upgrade? Is VR that thing yet?
"The PS4 is holding us back because we could do this crazy new game with tons of stuff you've never done before in a game" is an entirely different proposition than "The PS4 is holding us back because we could have, like, 8K."