As expected, Sony plans to improve PS Now with enhanced BC offering, expansion into new regions, and a complete overhaul by merging it with PS Plus. It's a little surprising they're offering three tiers though. I wonder if Sony will have a PS Plus app ready for Smart TV's with this rollout considering they had something similar for PS Now a few years back before cancelling it.
Depending on the price and benefits, this could be a very lucrative service for consumers, and very profitable for Sony. They have a ton of PS1/PS2/PSP backlog to bolster the service without hemorrhaging revenue/profit from new first party games. Having it available worldwide will bring in a bunch of new subscribers too. It might not grow as fast, as lucrative, or as large as Game Pass this generation, but Sony having north of 10+ Million subscribers will be generating over a billion in revenue yearly, perhaps over a billion in profit since they've already made money on their back catalog.