Well yes and no,
I’m more referring to the fact that it seems like consoles are being squeezed from both the low end and high end.
Generally, you can play most popular titles with low end hardware:
And of course, consoles could never compete with the top of the line PC.
I don’t think consumer expectations are necessarily the issue, so much as the value proposition isn’t there for the Xbox or PlayStation. And if it’s not value a particular consumer is looking for, then performance can be had elsewhere.
Thus, as a business strategy, a company has to sell their product on a gimmick or exclusivity.
As it stands, I don’t think that Xbox has either going for it.
Oddly enough, the Switch is perfectly capable of running totk and botw faster:
All it took was clocking the memory higher.
Tears of the Kingdom dropped frames badly though. I hadn’t seen frame drops that bad since Majora’s Mask on the n64.
As an aside, I looked at the top played games on Steam, expecting a lot of titles from five to ten years ago to be up there, but was surprised to see a lot of post-2020 games. I must just be out of touch now.
If I were an executive in the console industry though, I’d probably go all in on a shift to mobile like the Switch. The GabeGear has proved there’s a non-Nintendo market for it, and a handheld would be an easier sell for lower performance in exchange for portability.
Combine that with a few exclusives and you have a market.