In an interview with GameSpot, Spencer sought to put the rumors to rest.
"Last year we talked about xCloud and then we said we were working on new game consoles, but that's all I said." Spencer said. "We didn't say that [a streaming console was in the works]. I think maybe some people thought that that was the disc-less one that we just shipped. We are not working on a streaming-only console right now. We are looking at the phone in your pocket as the destination for you to stream, and the console that we have allows you to play the games locally."
""I think the area that we really want to focus on next generation is frame rate and playability of the games," Spencer said. "Ensuring that the games load incredibly fast, ensuring that the game is running at the highest frame rate possible."
Exactly how high remains to be seen, though Spencer did point to 60 frames per second at 4K. Hitting 60fps is not crazy high, obviously, but bear in mind that 4K amounts to around four times more pixels than 1080p.