Can see it happening and failing hard

Not really sure what the odds are but I personally hope it's true.

I've been following the game industry for like 25 years ... an announcement of a system like that wouldn't go unnoticed, lol. 

It's an insane premise. 

Rumors of some random C-tier franchise get picked up, the entire gaming press "missing" the president of Japanese (arugably) biggest 3rd party announcing a new game platform from Sony is beyond absurd. 

It's worse than "I have an uncle who works at Nintendo and he told me Super Duper Nintendo with graphics better than PS4 Pro is coming out this Christmas".

I think managing a console + VR platform is enough to keep Playstation's hands full.

They'd be better off pushing for PSNow on PC and mobile.

I think its highly likely but I have a feeling this time around it will be Nintendo selling the higher cost more powerful platform and Sony's will be a lower performance level and a mass market price. Vita's high pricing and stupid proprietary memory cards did a lot of initial damage and lack of compelling games always prevented later mass acceptance.

It would surprise me if the format will be tied in strongly with the ps5. The ps5 may even offer a free virtual console version of the portable so you can buy and play psp3 games without ever owning the console but if you want to go portable you have to buy the console of course. That way people can collect psp3 games with psn plus and be motivated to buy the console as their library increases.

It may even be the second generation of playstation VR where the display is basically a phone/portable console that slides into a VR headset.

The fact of the matter is Nintendo simply won't let Sony win in the portable sector, especially now that all their chips are in on the Switch.

What's the point if you're just going to get spanked by Nintendo. There's only a smaller market for portable gaming devices left, and even for Nintendo, Nintendo now has to go upmarket (higher end) with Switch to be able to co-exist with smartphones/tablets.

Where would Sony even fit in? Switch is not a low-end device/kids toy.

I actually see Nintendo doing that first. Switch VR model where a future Switch just slides in and out of a cheap VR headset. 

The fact that they've wavered on VR and now left it open ended makes me think something is already in development. 

Please be true, I need as many sources of amusement as possible.

idk, but the PS4 is successful enough, so I don't think they should even bother with another handheld, since they're clearly not great at managing one. 

If it's a more along the lines of Xperia Play with some exclusive content, it can do well. Otherwise it would be domed.