Probably not.

However I don't think we'll be hearing Shu Yoshida saying "IF" there is a PS5, anymore.

Lorne Lanning has said that PlayStation boss Shuhei Yoshida has expressed uncertainty as to whether there will be a PlayStation 5.

Lanning made the comments on the Game Informer Show (as spotted by excellently monikered NeoGAF user generic_username), where he said he asked a question about the possible future console ahead of an on-stage interview between the two:

"I said, 'well, what does the PlayStation 5 look like?' and he said 'you mean if'. [...] I said 'are you willing to say that on a stage?' and he said 'yeah, it's an if'."

http://www.ign.com/articles/2016/04/20/shuhei-yoshida-reportedly-unsure-if-there-will-be-a-ps5

Certainly one thing that Scorpio won't have, that full next-gen consoles (PS5, Xbox Next) will have to have, is High Bandwidth Memory in the form of either HBM2 or HBM3. Along with completely new CPUs, High Bandwidth Memory will distinguish future generation consoles from PS4 / PS4 Pro, Xbox One, Scorpio

HBM2 can reach 1 TB per second memory bandwidth with 32 GB memory.

HBM3 will be able to reach TB per second bandwidth, upto 64 GB.

Something else to consider, although HBM3 isn't due until 2019-2020, it's being designed to be cheaper to produce than HBM2.

Also, we have AMD's CPU, GPU roadmap, and advances in high-end APUs.

Right now this new "Mega APU" is currently in early design stages, with no planned release date. It is clear that this design uses a new GPU design that is beyond Vega, using a next-generation memory standard which offers advantages over both GDDR and HBM.

Building a large chip using several smaller CPU and GPU dies is a smart move from AMD, allowing them to create separate components on manufacturing processes that are optimised and best suited to each separate component and allows each constituent piece to be used in several different CPU, GPU or APU products.

For example, CPUs could be built on a performance optimised node, while the GPU clusters can be optimised for enhanced silicon density, with interposers being created using a cheaper process due to their simplistic functions that do not require cutting edge process technology.

This design method could be the future of how AMD creates all of their products, with both high-end and low-end GPUs being made from different numbers of the same chiplets and future consoles, desktop APUs and server products using many of the same CPU or GPU chiplets/components.

https://www.overclock3d.net/news/cpu_mainboard/amd_reveals_a_exascale_mega_apu_in_a_new_academic_paper/1

Fall 2020 at the latest. That's like 3 and 1/2 years from now.

Also, the R&D of these mid generation upgraded consoles are not a huge expenditure for the console makers (less for PS4 Pro, a little more probably for Scorpio). AMD does most of R&D on the SoCs anyway. It's not like in the old days where consoles used in-house technology (PS2) or required a massive R&D effort (PS3's Cell processor).

The base consoles from 2013 were very conservative and used slightly custom PC technology (Jaguar CPU, and GCN 1.x GPU). The new upgraded versions for 2016 and 2017 aren't much of a departure, just significantly more powerful (especially Scorpio).

Gets interesting at about 21 minutes in - Full next gen consoles (beyond PS4 Pro and beyond Scorpio)

will certainly include AMD RyZen CPU technology. Even though advances in silicon manufacturing process is slowing down, there will be enough of an advancement for console-class silicon to make another full generational leap over the base PS4 and Xbox One released in 2013 on 28nm, especially in CPU, which was one of the main things PS4 system architect Mark Cerny stated would define the difference between console generations, along with the type of RAM and storage.

This.

Exactly.

Then why does the cart only have 7 GB (on an 8GB card) with 13 GB storage needed and a strong recommendation (if not requirement) to have internet?

Something is very wrong here, but it won't take long to find out what it is, or rather, confirm what is already suspected.

False alarm? Yeah, No.

13 GB will still have to be downloaded. Oh sure, a portion of the game can start to be played with just the cart, but 13 GB is more than half the total file size, so you won't be doing a while lot if you don't have internet and storage space, or can't use the remaining space you have.

Polygon:

Another third-party Switch game causes uproar

The cart version of Lego City Undercover needs a big install

By Allegra Frank on March 27, 2017 6:30 pm

Lego City Undercover is the next major third-party port heading to Nintendo Switch, but early copies are already turning some console owners off of the game. It turns out that even physical versions of the Switch remaster require a hefty, internet-enabled data download.

Although Lego City Undercover isn’t due at retail until April 4, some stores already have it in stock. One retail-working Reddit user whose store now has copies noticed that the game case indicates that an internet connection is required, even to play the cartridge.

“Up to 13 GB storage required for game download” is the reason why, as the packaging notes. That’s a sizable portion of the Nintendo Switch’s hard drive space, which is capped at 32 GB.

While PlayStation 4 and Xbox One games require installs even when playing games on disc, that a Switch title arrives with a similar download has many Nintendo fans baffled.

“Are they out of their minds?” wrote an especially infuriated commenter. “So people buying physical to save on downloads and memory are still getting screwed? I hope this doesn't become a thing where publishers cheap out on the physical card size and force consumers to basically download the entire game.”

There’s been speculation about Nintendo Switch cartridge sizes, particularly their capacity. While games like The Legend of Zelda: Breath of the Wildload up from the game card with ease, outlets like Eurogamer questioned whether publishers could opt into using smaller-sized cartridges for their games. That’s tied up in production costs and other variables that may lead to certain third-party games hitting the Switch at higher prices.

Rime and Minecraft: Story Mode caused stirs earlier this month when retailers listed them at higher prices than their PlayStation 4 and Xbox One counterparts. TequilaWorks, Rime’s publisher, told concerned Switch owners that the game was more expensive on Switch due to the increased cost of manufacturing on that console.

Lego City Undercover won’t cost more on Switch than it does on PlayStation 4 and Xbox One, at least, but the required install may diminish some of the benefit of buying it physically on the new Nintendo system. First released on Wii U back in 2013, the game is now part of that console’s budget-priced Selects program for $19.99. By comparison, the remaster — which has a co-op mode and other exclusive features — will go for $59.99 at launch.

More disappointing to many is that this is yet another third-party game that seems to arrive on Switch with a big caveat. Lego City Undercover — and Rime, and Minecraft: Story Mode — offers the same content as what’s on other platforms, but the pain point of installing the game, or paying more to play on the Nintendo console, has left Switch owners frustrated with its currently slim third-party catalogue.

We’ve contacted publisher Warner Bros. Interactive Entertainment about the required download and will update accordingly.

http://www.polygon.com/platform/amp/2017/3/27/15078334/lego-city-undercover-download-size-nintendo-switch

It seems that way. Indeed it's unacceptable.