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VanceIX said:

He means PS3 era, since he wants the PS4 to appeal to those who skipped last generation.

And from what I got out of it, he wants a Disney-like model, in which the content and look is the same, but post-editing is done to the content to get it up to standards. A lot of people refer to that as Disney "re-imagining" their movies, but they really aren't. In this case, I think re-imagining is just a softer word for remastering.

Re-imagining would be more like building the game again from scratch.

I think you've already come to your conclusion and are using it to fill in the holes of the theory. Not saying the conclusion is wrong, just that you're being a little premature in deciding that the OP means "we are going to take ps3 games bring them up to 1080/60 and rerelease them".