Part of it is that consoles are just PCs now. There is absolutely no excuse to not be backwards compatible in the current day. But by the same token, consumers

Part of it is that consoles are just PCs now. There is absolutely no excuse to not be backwards compatible in the current day. But by the same token, consumers are realizing that consoles are just a less useful version of a gaming PC. The real deal has infinitely more utility for not much more money. Console makers are trying to sweeten the pot (or staunch the bleeding) by artificially expanding their library with prior generation games. At least until they get bored and decide to black hole all those same games, Sega. Frankly I don't see any point to consoles anymore apart from the Console Experience(TM). A PC does it better, faster, cheaper, with literally more games than your entire extended family can play in their combined lifetimes. It also does literally anything else you could want. A console plays games and streams Netflix and that's about it. It has an artificially limited number of titles, and after a point will never get more and will become a stupidly expensive paperweight. A gaming PC can be useful for over a decade with no upgrades. Especially since couch co-op is no longer a thing game studios are interested in, there's just no point. I don't expect to ever buy another console.