The Xbox One launch was a masterclass on how to drive your brand into the ground. Like seriously, I could see a Harvard Report case study on this some day, it was so bad. From the overall vision to losing touch with their consumers, there just was so much that wasn't done right.
Even through all that though, the One has been my primary system and I've enjoyed a lot this generation. As such, I'm very interested in seeing what Panos Panay and his group can do with a box whose vision is driven by Phil Spencer and his team.
So if the rumored power ~6 TF, backward and forward compatibility (via UWP) are the future of Xbox, I'm very interested in hearing more, so I'm ready for E3.
On the other hand, I agree with those who have said that releasing Fall of next year, seems like a mistake - giving the market leader that much time to build on the lead is probably not a great strategy. I guess the reality of the hardware may dictate the release window though.