To me, consoles should try to focus on one task most of all, namely gaming, with everything else being a pleasant extra feature, such as the ability to watch movies or listen music or browse the internet when online. That way, all of the processing power and memory can be dedicated to performing it's main task as good as possible without any variables in the way. A second very important part, to me, is that the device should be as simple as possible to plug-and-play with nothing delaying you, just turn it on, pop a disk in, and play.
As such, I don't see a need for much innovation, especially as it clearly comes as a much higher price tag than if they just keep it simple.
If anything gets in the way of the console's ability to simply play games, such as DRM, restrictions, unnecessary features that clog up the system, full game installations from disk to HDD, big updates that take a long time to complete or even crashing during, or even gets bricked, well then it's just a inferior, small form factor PC, lacking the ability to quickly diagnose and repair/swap faulty hardware.
As for pricing, the Xbox One will of course drop in price eventually but as long as the Kinect 2.0 is still mandatory and bundled, it'll be hard for MS to compete in pricing without losing a lot of money in the process, which will inevitably return in the form of (personalized) advertisement (thanks to Kinect 2.0), perhaps higher game prices, more DLC at higher prices, etc.