Yeah it is not the approach I thought they would take, I expected PS4 to become a low budget alternative for years to come like the PS2, but it looks like Sony's just not headed that way, they're going all in for the PS5 and trying to force an upgrade as fast as possible. 

Sony wants consumers to migrate to PS5 ASAP

They need a big installment base to attach 3rd parties. Their games are mostly short lived, if they don't get many sales in the first 2 years 3rd party will look for Series X, even if Series X don't sell as much it can potentially be on PC too

I don't even know if this generational strategy makes any sense nowadays when game revenues are 80% from software. Each company should just release new console or console versions from 3 and 3 years and let developers decided to which devices their games will work. This way you won't hurt your profit sales too much each time you "change" your generation

Like in PC gaming

But I understand console consumers want things to be as simple as possible, they don't want to understand specs or need any kind of upgrade, so this is not going to happen

I also understand dedicated hardware have some fancy architecture to maximize efficiency running games without the most top end components, that's how they create a competitive price. PC architecture is far more generic, wants a better PC? Buy better components 

Consoles from different generations are completely new products, you can't just update them, you will need to rework them from scratch one they reach their limit

In the end I don't see this home console business model working forever. It will end some day