Having the most powerful console is a message that no longer works in the current console market, according to the creator of Xbox, as it was a story that only worked in the past for a few reasons.
Speaking with VideoGamer, the creator of the original Microsoft console Seamus Blackley commented on how having the most powerful console back in the original Xbox and PlayStation 2 generation was important, but not so much nowadays, as in that console generation, we were still in the "nascent stages of graphics," and taking a hit in the cost of goods of the cogs was critical to position the system against the Japanese consoles, one-up them in this regard, and bet on the games being better.
Despite the narrative that having the most powerful console may have helped, the reason to buy any console has always been about the content, and the Xbox creator thinks this hasn't changed at all. What has changed is that this battle for the content has moved away from any sort of technical achievement and is now centered on creating a sort of experience that gets people to want it, regardless of what sorts of visuals it can push. The Nintendo Switch is the prime example of this, as with its content, Nintendo managed to get people to purchase a console released in 2017 powered by underclocked 2013 hardware.
The Xbox creator's statements don't come as a surprise to anyone who has been keeping tabs on the gaming industry. With Microsoft pushing its multiplatform strategy, bringing former Xbox exclusives to PlayStation and Nintendo Switch, and some developers suggesting Sony may follow suit, the importance of content over hardware is becoming increasingly clear, and with future home consoles unlikely to offer massive leaps in visual fidelity without significant price increases that could limit their appeal, making compelling content is set to become more crucial than ever, regardless of the platform.