> Because while the naming is pretty bad, people do actually know it's the latest generation console.

Do they? I don't. At this moment, I couldn't tell you the name of Microsoft's newest console, because their naming convention is so convoluted. Meanwhile, I can tell from a glance that the PS5 is newer than the PS4.

Granted, I'm not a console gamer, but neither are (most) parents buying consoles for their children.

"Ehh, people will know what we're talking about" seems like a haphazard marketing strategy.