YES, backwards compatibility is exactly what I wanted to hear. Now I can just take my entire PS4 library with me to PS5 and still catch up on the ones that I wasn't able to play on PS4 yet or are releasing at the end of this generation like Dreams.
The use of an SSD and what that means for load times and changes to how games work/run is really interesting as well. Damn, Sony really dropped this out of nowhere today, huh? lmao, i'm excited to see more tho!