That is what they have been saying. It seems reasonable considering the expense of releasing a new model.I think both sony and microsoft have made it very clear that they dont plan on releasing a new console any time soon. Ill get excited when an official announcement is made, those specs seem over the top.
Ask any gamer - would he/she prefer a console thats environmentally friendly that saves on electricity or do they want a cheaper console with standard energy usage, I believe most will choose cheaper console if they are honest with themselves.
If it turns off completely you lose features like being able to turn it on from the controller. The current consoles barely use any electricity anyway when they're in standby.