I may be wrong but seems to me that having GDDR5 at a speed which would provide bandwidth equivalent to the ESRAM found in XB1 to maintain compatibility was probably part of the consideration.Well yes. And Zen has also been in development for years and just happens to be coming to consumers in 2017. Does that mean XBO-T is going to have Zen? Nope. Does it mean XBO-T is going to use Jaguar? Nope. It means it's possible that they might use Zen. It's also possible they remain with Jaguar.
Microsoft had an option to launch a new console this year. They chose not to do so because the hardware that they wanted to include was not yet available to hit the performance targets that they wanted to hit.
That could mean any number of things. The GPU cores required to hit their target with the currently available technology is obviously not an option. At least not without hitting anywhere in the 200-300 watt range for the console. So it's fairly safe to assume that's one piece of the puzzle. Which doesn't mean that they weren't also waiting until late 2017 to include an upgraded CPU core. But it also doesn't mean they are going to include it.
Hence people speculating on the inclusion of Zen have a valid case. And people speculating on Jaguar also have a valid case.
Regards,
SB