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Jicale said:
If true, who would buy the PS5 at release date? Just sit back, wait for the next gen game catalogue to build and buy the PS5.5 mid gen.

I think this is what people don't get. 

When the PS5 drops, you will still be able to play PS5 games on your PS4. Albeit just running at 720p@30fps or less with IQ set to minimum. 

What we are seeing here is the beginning of scalable consoles.