Getting back to the OP, I'm kind of hoping SCE doesn't end up marketing this one as the PS4K although that's so catchy and obvious of a name, it would almost be a missed opportunity if they didn't use it.
But there is no way in hell that this will be a legitimate 4K native rendering gaming device. It is simply not physically possible by the amount of processing power required to render that much data, to sell a piece of hardware at a price that will achieve any type of significant sales as a consumer device.
As it's already been said, the PS4K will play 4K video. At best we'll see some smeary 4K upscaling for games, anywhere from a 50-100% increase in processing power (more if we're being optimistic, depending upon what type of OEM deals SCE brokered with AMD and other OEM parts suppliers), which should translate well to increased performance in existing games, but nothing mind-blowing.
Optimistically, if the PS4K is capable of rendering native 1920x1080 x 2 at 60fps, we have a consumer device that is now perfectly suited for VR resolutions and performance.
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