I am speculating but I think some of the console owners of the game are wondering if their copy allows them to update if there is a new version released for the new gen consoles (them having the new gen console of course) or if they would have to purchase the new release as a new game.
Just to be clear I am like guppy and have no dog in this fight as I have never owned a console. I was just expressing an opinion on what I thought some of them seemed like they were concerned about and I have no personal choice on how ti goes.They should keep wondering. There is one unknown fact and that is what the publisher that TFP contracts to do the update will do. TFP cannot know whether that publisher eventually wants to do some promotion. Even if the publisher is already known the publisher himself probably has no finalized plans for stuff that will happen in 2-3 years
But if you simply look at the bottom line and assume that the publisher wants to make money then the chance of just giving the game to a sizable part of the target group for free is VEEERY small to almost nonexistent. The chance that they might give some promotional discount to owners of the previous game is at least one of several options and in my view a sensible move even though a lot of console owners hurt by the Telltale crash will not appreciate it.
All the console people dreaming about the vast amounts of money the console version made for telltale and TFP forget conveniently that the bankruptcy and the other projects of Telltale burned huge parts of that money (and was Telltale's money anyway) and the much smaller money from the licence TFP got is probably in the same ball park as the money TFP needed to buy the rights back. In short, there probably is no console money left for generously giving away a few million of copies of the new console game. Even if TFP wanted it, the new publisher starts at zero and will not accept a deal where he makes no profit.