As in the movie industry, the middle ground in the games industry has been disappearing. Your best shot at turning a profit is either to make small bets on mobile/indie games, or go full-bore for a AAA title with a budget in the double or triple digit millions. Indies don't need another generation of consoles; AAA developers don't want to rebuild all the tech they created for the 360/PS3.
The assumption at the start of the current generation was that if you invested in your tech fairly early on, you'd be able to get a trilogy out of it before the subsequent generation of consoles made the tech obsolete. (This is why so many 360/PS3 IPs were structured as trilogies) Now that it's obvious the current consoles aren't going away anytime soon, developers are looking to amortize their tech over a few more titles before the hardware changes again.