We already saw that happen with this gen though. PS4 was announced in February and it released in November. That is nearly 1 year. It partially worked because they had event after event to keep the hype rising instead of peaking and then declining.Anticipating hype for a console like that doesn't make any sense just look at Project Scorpio, so much hype surrounding the console but it only sells well once it's on sale for 350 - 399.
Hyping hardware one year before is a mistake, simply because hype dies half way waiting for it.
I'd rather have something like the Pro which was announced and quickly released
It is the same idea behind announcing a new IP like Horizon early. Yeah, you could announce it closer to release but then you also don't get numerous chances to increase awareness of a completely new game.