I think one reason this E3 is muted besides the whole Nintendo ditching and MS/Sony doing the upgrade stuff is that there doesn't really seem to be room to announce new stuff. The past 3 E3s have all had major announcements for games that still aren't out. I feel like this E3 is going to be just showing extended gameplay of a lot of them. I could be wrong, but look at these games that are announced but haven't released:
FFXV, KH3, Horizon, TLG, Shenmue, FFVIIR, Crackdown, Scalebound, Nier 2, Gears 4, Persona 5, Phantom Dust?, Hellblade, Nioh, etc.
Then there's recently announced stuff like CoD, Battlefield, new AC, new Watch_Dogs, annual stuff. And companies like Bethesda just released Doom and Fallout, maybe they'll show off ES6? Sony could announce TLoU2? Just seems like there's a ton of announced games that we need to learn more about, so I'm not expecting too many surprises this year. The past few years have been all the big bombs, it's time to actually follow through on them
Yeah since I bought a 970, my care factor for consoles has plummeted. Now it's like E3 will often show games that, for me, will be underpowered and unmoddable. I'm glad Microsoft is taking steps to release most everything on PC.
On the other hand, these new consoles will hopefully force devs to push specs which will ultimately benefit the PC version.
I still don't have a lot of faith. The spec improvement that would really push shit forward would be getting CPUs worth half a shit in those consoles. But that affects things that aren't nearly as marketable as the shit a better GPU affects. So until they put a decent CPU in there I'm not holding my breath