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Kyuu said:

But at a $1000+, the majority of Playstation gamers wouldn't upgrade.

Depends on the used PS5 prices at PS6 launch

If they can sell that old console without warranty for $500+ or $600+, their effective costs for the new console (99% compatible, at least twice as fast, PSSR3 support, fresh warranty) would be $400 - $500... not a bad investment for the next 4 - 8 years until new hardware launches.