Microsoft would have to be stupid to release a new console just two years after the overpowered X.
It won't be out till 2021, even if Sony releases their PS5 next year. At that console release cadence, can they really expect to make their money back on the tiny number of console sales, and the marginal amount of games?
You can't expect Live revenues to cover the costs of rebuilding the thing every two years. And MS only announced the X incredibly early because they got blow away by he Pro...tyhey would never do that if thew PS5 released next year.
MS has already read the writing on the wall as far as charging a premium for their X console. On Amazon (and every other big box store), It's now on permanent markdown to $12 under the PS4 Pro. While the Pro has not dropped in price since it's release three years ago.
The XB1 was an utter failure, MS wants to put it behind them. In 2020 the XB1 will be 7 years old. Seven years of a failed console and a failed attempt at a mid-gen refresh. Make no mistake, both the PS4 Pro and XBX were stop-gap solutions to woefully underpowered systems designed to allow the generation to last until they could get replacements out. Sony will undoubtedly launch the PS5 around the same time. There are already games being talked about as for "next generation platforms", that means developers either already have early devkits in hand or they've been informed that new systems are on the horizon.