Yep, and then all next-gen Xbox games can target the Anaconda hardware, use the most geometry, the most impressive lighting model possible, etc. Because even if the streaming device is doing 1080p, the actual graphics won't be compromised. Future streaming models could even stream games at 4K, or not, the main point is, developers can take full advantage of the high-end spec, where the GPU is at least equal to if not more powerful than the PS5, even if the difference is marginal, which would not be the case with the lower-end Lockhart.
I could see this coming gen being an 8 year cycle, but not 15+ years (2035!) By 2028, I think we'll have Scarlett's successor and PS6 and they'll both be capable of some very impressive hybrid Ray+Raster rendering. This will be a full decade after Nvidia first introduced RTX Raytracing on very high-end graphics cards, this year. I'm sure AMD will have their own PC raytracing solution sometime during the early-to-mid 2020s, which will trickle down to next-next gen consoles in the late 2020s. I'm even assuming that mid-gen upgraded Scarlett/Anaconda and PS5 Pro around 2024 or so, would probably not have raytracing hardware.
15 years is an absolute eternity and I believe we'll have next-next gen consoles before the end of the 2020s.