Could've been a system seller for me. I will stick to PCSX2 to play the PS2 games I already have spent hundreds of dollars on.

I never expected disc support. I did, and tbh I still do expect it to be cross-buy.
I have no idea what the source is supposed to be though.

Also this is more akin to Nintendo's Virtual Console than it is to XBO's BC.

This makes me really sad... :/

I hope this isn't true because there are many PS2 discs I would buy if it meant they worked on my PS4. And it would make it so so easy for Sony to power on those SOCOM II servers again.

However I wouldn't compare it to the Virtual Console because while the VC is also an emulator, the consoles themselves aren't able to actually play the old games because they are on carts and also there are different platforms. This is a PS2 emulator added into another Playstation system that can actually read the media used to play the games. Unless there is some technical hurdle no one has uncovered yet, it appears the only reason to not allow us to use discs is to sell us digital content instead. And if true, that's garbage.

I don't care. I just need trophy support.

You just gave the very reason they might not allow disc based emulation of PS2 games, you can't buy PS2 games new anymore, so if you buy them no money is going to Sony and turning on servers of a dead game when most users just bought the game used/already own it is just costing them money.

I hope to see a reasonably price tag on these say £10-£15 per PS2 emulated game seems reasonable to me, There is hell of a lot of JRPG's i'd love to play with Trophy support and they would make a fair bit of money from me if they decide to bring them.

If they're adding trophies etc. even via emulation, it does mean that changes to the original game code might be needed to trigger these. If that was the case, the original PS2 discs would be no good because the code would be different.

If you already have the discs, you surely already have a PS2 to play the original games from? In which case no loss. If you don't, you are now getting access to another platform's software from the same box you already own for a few quid.

£4.99-£7.99 sounds better, and is also in line with the PS2 "classics" costs on PS2. If they want to charge £10-£15, I expect more than a simple upscale and trophy support. i.e. some software optimisation to put solid frame rates into games that chugged etc.

It's not, but the majority of ps3s can't emulate ps2 games. What I'm saying is that it's obvious that the ps4 wouldn't support existing ps2 classics because they are technically ps3 games.