Doesn't make much sense. Consoles need either great GPU, or innovation in other respect- like Wii controls were. Yet, such innovations do not come often, and even less often they have success in the market. Anyway, the options currently are:
a) the usual, "power" approach- great GPU and CPU, great graphics upon launch, long product life. Fusion doesn't fit here- either chip would be too big to manufacture, or it's graphics too weak for a new console; as for the current consoles- AMD has already sold the technology and is no longer needed in "fussing" GPU and CPU chips.
b) Cloud gaming: console is not necessary- it could all run of a PC.
c) 3D gaming- double GPU power needed, which means a discrete powerful GPU.
The next gaming consoles might very well be PCs with gaming docks for cloud gaming. So AMD does not need to sell Fusion to consoles- but to create their own gaming markets off PCs.