The game will stay free to play on the console, if you were wondering.
Path of Exile will release this year on Xbox One. Unfortunately, no specific date was given, but the game will keep a free-to-play model. It will also contain everything that the PC version has including the upcoming Act V, a part of expansion 3.0.0.
Seven character classes, each with three subclasses, will be available. Path of Exile will allow you to customize your skills to create various effects including a rain of magma bombs, as presented in the trailer: