There's also the not-insignificant possibility that there is no Xbox Series S. While the evidence this time around is compelling, it's worth noting that the vast majority of "low-powered Xbox" rumors over the years have been pure fabrication. When the console finally debuted, however, only one system was discussed. This is just more fuel for the "Lockhart is real" fire. While details about the Series S are still limited, The Verge reports that the console will come with 7.5GB of usable RAM and around 4 teraflops of GPU performance. It's expected to have a 1TB NVMe SSD, 16GB of pricey GDDR6 RAM (13.5 GB usable), an 8-core AMD Zen 2 CPU, and a next-generation RDNA 2 GPU from AMD capable of putting out a whopping 12.155 teraflops. The new consoles will succeed the Xbox One and PS4. We previously heard rumours of an "affordable" Xbox Series X being announced in May, but that didn't come to pass. "We've always talked about consistent and sustained performance". In the same document, there's a reference to both Xbox Series X and Xbox Series X.
But TFLOPS, as a metric, doesn't capture improvements to a GPU's performance per clock, because TFLOPS is a theoretical measurement meant to illustrate the GPU's maximum performance potential. "We could have used forced clocks, we could have used variable clock rates: the reality is that it makes it harder for developers to optimize their games even though it would have allowed us to boast higher TFLOPS than we already had, for example". 4TFLOPS is roughly in the ballpark of AMD's RX 5500.
Microsoft's introduction of its less-powerful upcoming console, rumored to be called the Xbox Series S, now won't be revealed until August, according to a report by Eurogamer. It's entirely possible that Microsoft has decided it has two tiers of customers: Those willing to pay $300 - $400 for an Xbox, and those willing to shuck out $500+.
As such, if Microsoft is going to reveal the Xbox Series S, August seems like the smart bet. On its own, the console is clearly a high-end platform, potentially positioned against a significantly less expensive PlayStation 5.
The Xbox Series X is old news - now, folks want to know about the Xbox Series S. This could explain why Microsoft was a bit cagey about the 60fps claim.