Sounds smart, pay $350-$400 for a new console, and who knows how much more for accessories, upwards of $1000 for games, then bam, new console comes out, no possibility for backwards compatibility, buy new accessories for it as well as games, then maybe, maybe hope to get about $200-$300 for selling all the old stuff at a gamestop. I've never sold a game or a console because I knew I wouldn't even get half of what I paid for to get them and there's the chance that I'd want to play the old games again - a lot of new games have a bad reputation of sucking over the past few years.
So to answer your question, yes.