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I think PS5 will be a smooth update, with backwards compatibility and multiplayer games working between PS4 and PS5. Sony's most precious asset is the soon to be 100mil user base. They won't risk that.

Sony was very subtle with the PS4 Pro update to not alianate og. PS4 users. I believe next gen transition will be similar, only difference is after couple of years from PS5 launch they will start publishing games that are PS5 exclusives.