I honestly don't see that happening, considering that CPU scaling with games that already use 8 cores like
Crysis 3 and
Far Cry 3 etc barely putting a FX-8350 at 4.0GHz on par with the Ivy i5 at 3.20GHz when graphic is not the limitation. Also, rubbing more sand to the wound, the K version of the i5 has much more average overclocking headroom than the FX-8350 (average 1.1GHz/33% overclock vs 500MHz/12.5% overclock).
Even with games using 8 cores, it doesn't change the fact that the individual core on the AMD CPU are quite weak comparing to the Intel's. Also, I think saying games don't need high IPC because console only got a 1.6GHz "8 cores" CPU is kinda flawed in logic, considering consoles'
frame rate target is still 30fps~fps, whereas many PC gamer's expectation nowadays is higher than that at 45fps+ (even higher if people using 120Hz monitor). Also, a stock clock FX-8 (which is faster than the console's 8 cores at 1.6GHz) only delivering average 61fps in Crysis 3, the consoles 8 cores 1.6GHz would most likely only hoping to deliver 20-40fps, should the Crysis 3 be available on the new consoles.
Also, consoles CPU only need to not bottleneck the graphic used in the consoles, whereas PC gamers graphic will become faster with each upgrade.