I hope Xbox is out of the console business for good now. As far as a PS5, Im not really looking forward to one yet. The 4 is a perfect system the way it is already.
I've seen quite a few videos and read quite a few articles with pretty compelling evidence that Xbox as a physical console is going the way of the dodo. They have made the bulk of their exclusives available on the PC now as well and have scuttled even more studios.
Phil Spencer hasn't come out and flat-out said that Xbox as a console is done, but he doesn't deny it either with typical answers like "I am committed to the Xbox brand." which could mean anything. Xbox as a brand could live on through PC games and online services.
As for PS5, I am in no hurry for a new console and if Microsoft is indeed exiting the hardware business, I don't see Sony or Nintendo rushing new hardware out. Aside from ever-present storage constraints (which could be rectified by buying a larger HDD), the PS4 does exactly what I want in a console right now.
The only things that could be improved for me is if Microsoft worked with Sony on their online infrastructure and made the Xbox One controllers compatible with the PS4, since those are two of the only things where I think Microsoft has an edge (even though the DS4 is pretty damn good). Then Microsoft could bring over their three good series (Halo, Forza and Gears) to the PS4 and all would be right in my world.