If a new Playstation console could be released every year that supported previous titles, I'd be for it, assuming it was viable and successful. I think people are far too concerned about the idea of being left behind or this notion that because a new console comes out that their experience with the older console will somehow be worse.
That's how it is on PC, I'm not so sure people are ready for that just yet.
I'd say that it's all about the money. I'll most likely buy a Scorpio. Lets say that it costs $449 as lots of people seem to think, XB1 launched a year later in Sweden so if this generation ends late 2019 I will have payed roughly $900 for 5 years of Xbox gaming.
Unfortunately I kind of like Sonys games too. And if I can't stand playing subpar versions of the games that got me to buy the PS4 in the first place I'll have to buy a PS4 Pro too. That's another $800 for 6 years of Playstation gaming.
That's easily on the same level as PC gaming in total cost (minus the initial investment).
And you're talking about yearly upgrades? Ouch.
The thing is, the difference compared to PC, and this is _very_ important, is that you can always tweak the games on PC to run on your old hardware. On console you can't do that. If a dev think that 20fps is perfectly fine on PS4 when PS4 Pro 3 launches then that's what you'll get. Enjoy your 20fps, or buy a new console. On PC you would just scale things down and still run the game at a decent framerate and upgrade when you have the money for it rather than when the devs force you to do it.
So if upgrades and forward compatibility becomes the norm then consoles need to have that
video settings menu that I've been requesting since like forever. Then I'd be perfectly fine with yearly upgrades, then it would be my own choice how important those extra details and effects really are that I might have to deactivate. Right now it's a mess, with enough complaining on the boards we might get a patch which makes a game run smoother, but we have no choice in what gets removed to achieve the smoother framerate, sometimes they remove stuff that some people wanted and the complaining continues, eventually they might get it right and everybody is happy but it's a rare situation.