In 2011 Xbox 360 had it's biggest selling year yet when multiplats like Battlefield 3, Crysis 2, Batman Arkham City were releasing. If you remember, the difference between the PC and Console version was hilarious at that point, way beyond any multiplat discrepancy on PS4 to PC as of yet (albeit that was 6 years into the 360's lifecycle).
At the moment the biggest multiplat differences we've seen so far can only be properly noticed when Digital Foundry zoom into a small block of the screen. Last gen, videos didn't need to zoom in 500% to Battlefield 3 to see that the PC version was in another visual leauge. It was right there in your face. But despite what SW thinks, no one boycotted the PS3 and 360, instead they bought more of them than they ever bought before.
In this gen, despite all the weak hardware talk, we have multiplats like Batman that are one of the best looking games on the market today, and look better on consoles. Obviously the PC version could have easily looked better if done right, but that's not the point, the point is that these consoles are still very capable of impressing the consumer on a visual level even in 2015.
In 2016, Quantum Break, Uncharted 4, Horizon release exclusively to consoles. Those games will impress even the most experienced gamers graphically. Despite the fact that these consoles were already '2 years out of date on release'. Nobody is going to stop buying these consoles because of how much better the PC version looks.
In essence, the hardware argument for a shorter gen is dumb. Game development cycles are too long now, and graphics only matter on the surface.
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