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my take:

Coming this year would be insane, and stupid. I just dont see that happening, they're not releasing a new system in the midst of current gen "peak years."

You got a Standard PS4 at 299, a Pro at 399, an X at 499 - What would a Ps5 cost? How much would Sony have to put down their existing models? Sony would take a loss at hardware no matter what. And Sony wont take a hit on hardware, they didnt on the PS4 and it paid off. Big time.

I cant see one reason to why PS5 would release this, there's no need for it from Sonys side, the market doesnt cry for it either