The people only expecting current games at native 4k/60fps will be very, very pleasantly surprised.
Right now everything you see from the geometric complexity of the Worlds to the lighting engine to all the physics simulations are built around a base Xbox One console, at least for multiplatform games and Xbox exclusives. Even PS4 exclusives are constrained by the now ancient base PS4 tech.
Companies are going to go from having a 1.6GHz Jaguar CPU and a 1.3/1.8tflop GPU as a base to a 2.8-3.2GHz Ryzen CPU and a ~12tflop GPU as a base.
The visual differences outside of image quality (for those with an X) will be momentous.
Even supposed cross gen games like Death Stranding and Cyberpunk will look out dated very quickly compared to next gen exclusive titles.
That makes me even more excited for next gen. I'm very curious to see what cool ideas devs will come up with to use all that processing power.