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I think PS5 will be VR focused and produce a slightly improved level of graphical fidelity to PS4, but at 2140p(or 4k)/120fps for compulsory VR support of all games. So the hardware will be significantly more powerful but the least dramatic of all generational leaps so far. If you choose to run games without PSVR a few graphical settings will be upgraded. It will have backwards compatibility with PS4, and there will be more cross-generational titles than usual, but eventually PS4 support will be phased out. It won't come with a PSVR headset but will be an exceptionally cheap console ($299) to encourage users to buy the headset in addition. 2020 release.