Hard to call at this point. Microsoft is saying full 4K gaming.. I know today to do this on a PC, you need 2 $500+ video cards, never mind the computer itself (maybe around $2000 to 3500).
To release this type of quality in a brand new console for under $500, is going to be really hard, even with bulk buying of chips..
Something tells me this is going to be delayed till late 2018, or is going to come out around 800-1000... and if that happens it will be a very limited success...
Remember the more consoles that are sold, the more games that are made for it, If it sells for too much, not too many games will come out for it...
As if it hits for under $500, chances are I will buy it right away but, if it hits $700+, I will wait to see what happens.... I think that is too much for a console (remember the PS3's original release price of $699 and that was a public outrage)