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Sounds very reasonable. The PS4 is far too weak for 4K or VR, it can barely handle 1080p with reduced details, frame rate and draw-distance compared to PC. But hardware-wise the PS4 is a AMD64-PC and could easily be upgraded. And AMD's new APU generation which could just replace the current slow AMD PS4 APU, exactly can do 4K processing at relatively low cost. As long as games stay backwards-compatible to the old PS4 (with lower resolution, framerate, details, draw-distance) it would be a very wise move and enable Sony to sell more 4K TVs and movies.

The only looser would be the NX because it would be outdated and a whole generation behind once again.