These consoles were never truly next-gen. Heck, the PS5 can't even handle full raytracing @ 60 frame in GTA 5, a decade old game
I have a feeling we've pretty much reached our peak in terms of tech that can be fitted into a console machine at a viable price. The tech required for truly next gen gaming just isn't quite there yet (at an affordable price).
I wouldn't be surprised if we don't see a PS5 Pro type console with a beefed up GPU in the near future here.