Is this a thread attempting to imply Moores Law has found it's limit? We are no where near hitting the limit of how much smaller compute can get, we are scheduled to
shift towards molecular computers by 2023 in computer science lab's via off the shelf component's... say's literally all of Computer Science - molecular compute has already been achieved and the 5, 3, 2 and 1 nanometer form factors are definitely on the roadmap for console chips. We already have CPU's with upwards of 5,256 CPU cores so why would this trend be anywhere near slowing down? It is actually accelerating.
As far as seeing new consoles release before we actually arrive at next gen, I doubt it will happen this go around - but possible - we may see a simple ssd upgrade in both parts, and perhaps a simple refinement of both consoles and form factor - but even the ssd upgrade may not happen. However technology is outpacing itself - even now - so it may prove financially beneficial and lucrative to consumer's to provide upgraded tier's.
I'm still not certain we will see upgraded variant's. I do see Microsoft investing heavily into it's MLRender processes on it's console however.