Well, we have been hearing with every new generation how igps were going to replace dgpus for gaming, but they still are not an adequate solution for high end games. TBH, I dont see that happening with Broadwell/Skylake or Carrizo either, unless you want to spend several hundred dollars for a Skylake iris pro. Even with stacked memory, I am not sure performance will be enough. Look at Kaveri, even assuming no bandwidth limitations, the number of shaders is only HD7750 levels, and clockspeed is lower because of thermal constraints. Even then, throttling is a problem, at least according to some tests. HD7750 was a decent entry level card a year or two ago, but now would not meet the minimum requirements of a lot of current gen console ports, much less games a year or two in the future. And Intel is even worse, except for the outrageously expensive iris pro. Current APUs are limited to 720p except for less demanding games, while 1080p is pretty much standard resolution, and we are steadily moving toward 1440p and eventually 4k.
So what has to happen for a igpu to be an adequate solution?
More bandwidth, more shaders, higher clockspeed for the igpu, better cpu performance at least for AMD, and all this within a die size and thermal envelope of a cpu. I would never say it is impossible, but I would not call it likely.