The only way next gen consoles run at 4K30 is if both Sony and Microsoft wait until ~2021 for the 10nm High Performance node. Your typical console GPU is around 200mm² with a ~75W TDP.
That means either the current console generation will be just as long as the PS3/Xbox 360 generation, or if they elect to jump in during ~2019 while we are still on the 14nm High Performance node, the Xbox Two/PS5 will both be rendering internally at 1440P and upscaling to 4K.
The GPU power budget on PS4 is much higher than 75W. It has a GPU that lands between HD7850 and 7870 in performance. During 2013, AMD never had any GCN GPU that could hit that level of performance on 28nm in just a 75W power envelope. The original PS4 can easily hit 140W of total power usage while PS3 was close to 200W.
A GTX980Ti is almost exactly
3X more powerful at 1080P HQ than an R7 370 (roughly similar to PS4's GPU). For next gen consoles, they are targeting
5X the increase in perf/watt. If we assume the same TDP & similar breakdown between CPU/GPU component, that would make PS5 roughly 5X faster than PS4, or 5/3 = 67% faster than GTX980Ti.
Can a card that's 67% faster than GTX980Ti play some AAA games at 4K @ 30 fps with a combination of Medium-High settings? Yes. Could it play 2020-2025 AAA game at 4K well? Probably not but for marketing purposes, they might gimp graphics IQ for 4K marketing!
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My biggest issue with 4K console gaming is that in the living room, 4K is mostly a marketing gimmick without having a huge TV or sitting way up close than normal. I'd much rather see all next gen games target 1080P maxed out @ 60 fps with maximum graphics (lighting, textures, shadows, physics, AI, objects on screen, rather than pointless 4K marketing gimmicks).
There is no doubt in my mind that next gen consoles will be marketed as 4K though simply because of 4K TVs, 4K BluRays and naturally having HDMI 2.0 (or newer) or DP 1.3 (or newer) connection. For media alone, I wouldn't even be surprised if they targeted 5K marketing capability.
Intel is already marketing 5K @ 30-60 fps for Kaby Lake for media and that's only a 2016 GPU.