"Report reads like it may not play games natively like PSP and Vita, but offer only the remote play from PS5 over wi-fi and presumably 5G for out-of-house play"
This killed it for me. I've a phone I could easily remote play with if I wanted to. They even have Playstation branded snap-on controllers for smartphones (I.e. Backbone One).
What I loved about the PSP (and, to a lesser extent, the PS Vita) was the library of exclusive titles built around the systems strengths that acted as prequels, sequels, or side stories to their console releases.
Grand Theft Auto Liberty City Stories, Vice City Stories, Ratchet and Clank Size Matters, Resistance Retribution, Kingdom Hearts Birth By Sleep, God of War Chains of Olympus, Ghost of Sparta, etc.
Remote play is convenient sometimes, but I wouldn't spend any significant amount of cash to do it. Even the backbone controller is a little too pricey for me.
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