I think it's a bad move, personally, as there's zero reason to own a console at that point (for me). I'd much rather own a competent PC which I'm going to own anyway, which all the games come to anyway since consoles have fuck all in the way of exclusives anymore. It would be cheaper in the short term to upgrade a console than a PC, but I don't know how well that will hold up when you buy a couple of those things over the course of a few years. You start approaching PC price points, and those tend to last me much longer anyway with just a few cheaper upgrades to extend it when necessary.
I get why they want to do it, but I just don't see it working. Do people really have this kind of money to blow on consoles? And what's the upswing? 4k is utterly meaningless for most people with reasonably-sized televisions, and either they massively fragment the market with a console that's super powerful and has cool games which alienates the people who have the older models, or they don't let the developers use it to its fullest extent because they don't want to fragment the market. I guess I'm just confused what they hope to accomplish. My PS4 is not an iPhone and I would never treat it like one.