PS4 had Infamous Second Son pretty early in 2014, and that was a significant jump from anything on Ps3 (even Last of Us, arguably the pinnacle on PS3).
This gen seems to be going much slower, though part of it, is probably due to COVID.
Personally i don't really care about this particular instance, i haven't played GT since 1, and i hated GoW2018, so i don't really care for a sequel.
In general though, i hope we can move on sooner rather than later, from hardware that was already old in 2013.