Question: why would you want to do this? Second question: what would you do with it once you finished the console?

The reason i want to do this is i want to do something challenging and make something helpful for the fps creator community and possibly other game engines.It would give fps creator developers the chance to put there games on a game console instead of pc publishing.

Building a game console prototype is possible, you could build a nice linux distro as an operating system with appropriate drivers so you can play your game

Distribution and production of such a console is something completely different, you say you want to give fps creator developers the chance to be able to publish their games on a console, which means you would have to produce enough consoles to provide these devs all the machines they need to do development
If you want the games to be played by others you'd need to produce even more consoles to provide to end-users, which would need a lot of advertising, tech support, etc.

Unless you have enormous amounts of money for production, advertising and maintenance of your console, I don't see this happening