Then the main PS4 controller would need to be andriod/iOS compatible, because there is no way you can control complex games on a capacitive screen alone.

My thoughts on this are summed up to this: Nintendo failed to sell the GBA on Gamecube connectivity, Sony will fail to sell the Vita based on PS4 connectivity. It's just too expensive. The system will be at LEAST $399 bucks, but to tack on another $250 on top of that to do something your competitor already does? There just aren't enough games to sell the Vita as is, so it seems like Sony is desperate, and trying to play the Vita off as some sort of Wii U like device.

Even if I COULD afford all this, my internet sucks too much here to properly stream as much as Sony seems to want me to stream. I have a bandwidth cap, I have slow upload speeds, and my download speeds are always bogged down. I love the look of the vita, it's stylish, it's got a beautiful screen, and it's got dual analog sticks, but there just isn't enough of a library for me to justify a purchase, and cross play isn't enough for me to justify a purchase either. Why would I play the game on a small screen and tinny speakers, when I have my 55" HDTV with surround sound?

Quick Edit: I didn't mean to say that the GBA was a failure, as it sold quite well, but it was backed up by an AWESOME library of games. 

Pezus, lower your fanboy levels.
While this is good for Vita, it requires a PS4 creating an expense much larger than other competitors like Project Shield, Wii U and other streaming consoles coming in the upcoming year. It is far too costly for the normal consumer. The people who are really going to use this are the Sony fanboys and richer snobs which are already more likely to buy both systems. The Vita merely just has an extra incentive but people are just going to buy one of them.
Even a bundle would either incur a massive loss per unit sold or a still too expensive option. If people are saying the Wii U is overpriced who is not going the ps4 is too expensive even with its better specs.

Microsoft was rumored a few months ago to be working on their own streaming service.

I think you misunderstood the functionality. It will still require the PS4 to play those PS4 games on the Vita with remote play, the console will work as a server and the Vita as the client. Now what they did mentioned was PS1, PS2 and PS3 games in practically "any device", that could also mean PC, Tablets and even phones.

I don't see how this could "save" the Vita. It can hurt it even more, as now you may not need a dedicated console, to play console quality games on the go.

AMAZING NEWS!!!!!

I'm not sure I'd use the word "saved," but it is certainly a nice feature for PS4 + Vita owners, and potentially a selling point for either among owners of the other.

Gaming while taking a crap, here I go!

It will probally be limited by the same range "problems" that the WiiU's controller has maybe even more so since the WiiU's pad was designed to stream the infromation, where as the Vita isn't.

The funny thing is I don't think Pezus actually thinks the Vita is saved, and he's just trolling, I don't think he believes that the whole stream thing will save the Vita at all.