I understand Microsoft went with DDR3 for price/density and a safer bet to reach 8GB of RAM, but damn has that decision come to bite them in the ass.
Now they're stuck with a memory that will be technically very difficult to replace because of its low latency and also gets in the way of making a smaller PCB for the console.
I wonder if MS could counter the latency issue in switching memory through a combination of low latency binning (DDR4 timings on the desktop can be squeezed fairly aggressively from what I've seen), shorter traces, and making a faster memory controller that took up some slack in presenting data to the processors. As long as the data is arriving when it's needed with the original timings it should be okay, although achieving that may be very difficult.
There's also the option of HBM2, where a single 8GB stack would fit on the interposer. Trouble then is you're paying for BW that isn't needed - unless you could remove the esram. Then you're back to potential latency problems, I guess.