The refresh would add the components necessary to deliver 4K video playback.
So far Sony has expressed that they would like to support 4K and Microsoft has commented that it is considering it. Still the question remains on what kind of 4K video playback would the console makers support? Would it be limited to streaming or does this suggest that a new drive would be used in the consoles that would support 4K Blu-ray disc playback?
Considering that we already know that 4K Blu-ray is coming in late 2015, the real question is how they are going to expand the format to allow for larger disc capacity. There has been talk of a 66GB or 100GB disc capacity expansion that last we heard was undergoing a study. We have also heard that the possibility for triple layer Blu-ray discs also is possibility, but difficult to replicate and you need a drive that is able to read triple layer Blu-ray discs.
Whatever the outcome, we are not so sure that it will help the adoption of 4K TVs. This method didn't really help 3D that much and we don't think it is going to make people want to run out and buy a 4K TV when many of them just upgraded to HDTV in the last couple of years.
It seems to use that the one to have the potential to be hurt the most are the early adopters who already purchased a Xbox One or PS4 without 4K support. No matter how you slice it, the early adopters look to get the shaft on this deal unless you truly don't care about 4K support over the long haul.