I spoke with some console game devs who worked with PS5 title: there is a major problem with AAA title development. Because the games have become so big, it takes 5 years to produce one. The console life cycle is 5 years as well. Thus, as a game studio, you can only cram one AAA title for each console generation.

Then you need to start from the scratch with new console, new SDKs, new bugs and so on.