you're half right here. Technically even the PS3 could have played UHD with its drive if it was possible to output a 4k signal. PS3 supported dual layer BD and was actually used for example with MGS4. UHD Blu-Ray is a different standard though where a single layer is 66GB instead of standard Blu-Ray being 30GB. If UHD Blu-Ray was on a dual layer BD with 50GB, then yes a simple firmware update to the video player would enable these to play.
That being said, the capability to store UHD content on a standard 50GB BD is there, but it would not be enough for some movies, which is why the UHD standard does not call for the use of 50GB BD. Similarly, DVD would have been capable of storing a small amount of 1080p content, but not enough for feature length movies, which is why HD disc formats were developed in the first place.
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