Arrrgh, I'm old. Still have PS3, the 360 and PS4 all hooked up. My PS3 has basically always been my media server (it's REALLY good at that!) and if it blew up today, I'd definitely get another. My 360 sure has a lot of fun, weird indie games and stuff on it.
As far as the next generation being the next leap forward or whatever... I dunno. We're already at the point where the TV has to be upgraded (not all of us have bought 4K sets yet, you know) to take advantage of the horsepower of the current iteration of consoles... so I doubt that the next step will be much different. Maybe graphics get a little nicer, maybe framerates get a little more stable. Maybe, with PS5, they are correct and they kill traditional loading times (I'll believe that when I see it). Eh.
I keep telling myself "the next generation of consoles is when I opt out" and, unless PS5 is just somehow an indispensable machine with true backward compatibility with actual physical media, I just don't see myself getting one. Even my PS4, which I do have plenty of games for, doesn't get that much use these days. The Switch is where I do a great deal of gaming, just because it's so easy to pick up and play (and also not worry about hogging the TV). That is probably the one console that has VASTLY exceeded my expectations.