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Backwards compatibility is important to me, and I do use it quite a bit. I wish the PS5 was fully BC for a couple reasons:

1. I originally had a fat 60GB PS3. It was glorious. I could play PS1, PS2, and PS3 games, all through HDMI. Unfortunately, it started displaying graphical glitches after a while. So I had to replace it with a PS3 that no longer has BC with the PS2. W had also previously sold the PS2 since we no longer needed it. I would happily go with a 60GB PS3 and PS5 as my all encompassing solution, but buying one of those used today is really just gambling that it will last.

2. Even if I did have a PS2, the best that thing can output is component. Aside from the fact that component is considerably lower quality than HDMI, most TVs today don't even have component ports anymore. It is increasingly difficult to actually play a PS2 today.

Right now, I resort to emulation on my PC for my PS2 needs, which is pretty good, but not perfect. Would be nice if Sony provided a method.