Microsoft understand the gen in a different way. If rumors are true, they will commercialize Series X, a top premium machine, and Lockhart, a cheaper system that will reach a different part of the market.
According to The Verge, Lockhart, or Xbox Series S (tentative), will have 7.5 GB of RAM dedicated for games, 4 TF GPU, CPU with the same clock speed of the one mounted by Series X, SSD and no optical drive. The target could be to run games at 1080p or 1440p. Lockhart would be cheaper than Series X.
Venturabeat published that Microsoft could unveil Lockhart in August. Initially, the ideas was to present it at E3 2020. Therefore, August.