
Yes, I realize this is a touchy subject, and I will likely be accused of making a "click bait" blog. But just hear me out here. I'm actually against there NOT being a 9th generation of consoles.
Microsoft and Nintendo have both stated that they have plans for a 9th generation console, the Nintendo Fusion, and, I don't know, the Xbox Two. *Loud Booing.* Ok, corny joke, but lets get into the topic.
About a month ago an article popped up showing Specs for a possible 9th generation console. It came from a reliable source, and seemed realistic enough to believe. It was vaguely confirmed during a investor meeting that took place fairly recently. While Iwata basically confirmed nothing about the rumors other than that handheld and home consoles will be integrated, he clearly stated that they have SOMETHING planned.
The Xbox executive himself has stated (Or rather Tweeted.) that he thinks home console hardware will be important for a long time, and he does not think the Xbox One will be the last home console Microsoft makes. Of course, this is just a tweet, and we're not sure if Microsoft actually has another Xbox planned.
Let's look at the positives:
Many favor console gaming over PC, and even I personally do not want PC gaming to take over despite me liking it. With many claiming that this will be the last generation of consoles, it's nice to see the companies at least talking about their future hardware. Furthermore, when you think about it, console gaming is cheaper. You pay 400 bucks for a PS4, 50 bucks for PS Plus if you want to, and buy one or two games a month for 60 bucks like I do. With the PC, you have to find a GOOD gaming Pc, and those aren't cheap, then cross your fingers that you don't have to buy a processor every time you boot a game up to an old one. I have always favored console gaming, and I am sure many do. I'm not sure whether I would stop gaming all-together should next-gen be PC dominated, but I wouldn't game as much.
Now let's looks at the negatives:
When exactly are these consoles coming out, if they even are? Could something happen this generation that makes the companies decide against another console? And what about Sony? The PS4 is doing great, so I doubt they're focused on another console right now, but it couldn't hurt to be prepared for it. And there are analysis claiming Sony has a chance of going bankrupt in two years due to nothing besides Playstations selling well. I'm pretty sure they would sell the brand to another company, but to who, and would they even want to make a Playstation 5?
All of this is mainly rumors and speculation, but I suggest that you look further into each companies claims about 9th gen. It is a little early to worry about this, but only PC Master Race gamers want a PC-Only-Generation.

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Of course. We're still having issues getting every game to be 1080p. There will be another generation.
All platforms are going to struggle this gen, PC included, smartphones included, everything included. But that's simply due to the economic conditions.
There will certainly be a 9th gen and I anticipate that after we see the game industry crater during this gen, publishers and devs will be re-examining what made the Wii a success and made the PS2 a success, etc. Profitability is going to be the most important thing this gen since it will put companies in the best position to "try again" next gen.
It really depends on how quickly the infrastructure improves and how quickly things like PS Now take off..
A device the size of Vita TV, or a TV itself could stream in 1080p nicely in many places already.. If this gen managed to last 10 years it's really difficult to know where things will be by the end.
I suspect there will always be more generations though, even if they become more niche.
Minimum of one more, but I'd put money on two more as the sweet spot.
Think there will be one more but it will barely be recognisable as a console. Since the Megadrive/SNES days each gen has added some level of functionality on top of the previous generation:
Megadrive/SNES - Just games
PSX/Saturn - Music playback, VCD playback
PS2/Xbox - DVD playback, Internet ready
PS3/Xbox360 - Blu-Ray, web browser, mouse/keyboard support, media server
PS4/XB1 - too much to list
The shift towards a streamlined PC type of experience is evident, right down to the latest consoles being PCs in disguise with a custom OS sat on top of the hardware.