It doesn't have generations but most AAA games are held back by whatever the current console generation is.
Very few developers bother to use the extra available power for their PC versions like, say, DICE does. Hell, half the time we're lucky if the PC version gets a high res texture pack or a redesigned UI suited to keyboard and mouse.
The biggest budget games are still developed for console first and foremost, with relatively few exceptions (stuff like The Witcher series).
Sure, the PC versions will run at a higher resolution, and maybe with some nice bonuses like AA, but most of the time the model detail, lighting, particle effects, map sizes, AI, and often even the texture detail are limited to whatever current gen consoles are capable of.
It's why I feel his "real next generation" or "super next generation" suggestion is a little silly.