1. Current gen has years left, plus a cross-gen transition period. So no, Schreier is wrong.
2. If the planned product requires more than current gen technologically, then its extraordinarily restrictive in terms of addressable market.
3. Such a product would also be of questionable viability, as investment needs to be recouped eventually. Less volume requires more revenue per unit.
In short, its the myth of the "mega game". The thing so advanced and ambitious it cannot run on present hardware.
This sounds great on paper as a marketing blurb but ultimately only actually represents massive sunken cost for an uncertain ROI.