https://www.playstationlifestyle.net/2021/11/07/sega-talks-s...
https://www.forbes.com/sites/scottmendelson/2022/04/28/box-o...
A third movie is on the way.
On the consumer side, I can only imagine it would be yet another x86 based console, because what else is there to do? Another samey controller, because once you add a right analog stick, and left and right bumpers and a home button, what do you have left to differentiate on? Can't even put the cable on the wrong side anymore. I guess you could have a nicer screen and just build it into the controller, but that was hardly used last time.
On Sega's side, they're going to do all that R&D to make the same thing as everyone else and then how are they going to make the money back? Not on first party game sales. Third party sales will be hard too, unless they have some really strong pitch, but at this point, they're really a new entrant, so who's going to port to the new guy's platform, unless it's so amazing and underpriced that everyone will want to buy it.
Might be nice if they can figure out how to make a mini-dreamcast though. Depends on how many games they can get licensees to sign up for though, I guess.