Also fab production is a fundamental limitation to a greater degree than it was in the past, prices typically fell quickly as a process node gained better yields and could be made on less busy production lines but you have a much higher fixed cost just to convince TSMC or whoever to put you high enough up in priority to get your wafers made at all.

They still need a reason for people to buy them. The usual one being "look how much prettier it is!", but they are getting to a point the leaps of graphical fidelity enabled by technology are smaller and smaller, but the costs of making everything higher definition are skyrocketing.

I don't think that is going to work as well for consoles as it does for phones. People can just keep playing older games. Living in a third-world country I know that too well. And if they try to sabotage the consoles, that might drive people away from console gaming entirely.

The inner generation consoles aren't marketed to those who already own that generation. So the console cycle is still over every 7 years or so.

Apple doesn’t force you to upgrade. They have the longest support length in mobile. What they are fantastic at is convincing you that you need to upgrade.

Even then if you have the hardware to run the 1st party console games on PC you can always emulate the switch.