One could think that designing a console is just slamming a CPU and GPU on a motherboard, shove it in a plastic casing and be done with it. But this is not the case at all, as these things take a really long time to get everything right, efficient, user friendly, easy to develop for and so on. In fact so long, that a reasonable guess is that Microsoft and Sony probably are in the early planning stages of the next Xbox and PlayStation 6.
The Engineering Lead at Xbox, Eden Marie, revealed in a conversation on Twitter with an angry gamer that it took more than four years to develop Xbox Series X. Series X launched 2020 and rewinding four year reveals that the planning/pre-production started 2016 or possibly even earlier.
Did you expect the development of a console to take this much time?