My guess is that if someone has enough funding to make a new system, it wouldn't have to have the best graphics or special features, but if it had a good set of launch games and platform-exlusives, people would buy it. It would still have to have at least X-Box class graphics to be taken seriously, though. I think it's do-able, but not very likely since you would have to either make your own games, or convince a good development company that your system would sell well so they would make titles for it.