If it's just a peripheral, a PS U of a sort, sure, why not, there are people who want to play like that at home.
If it's supposed to be an actual handheld console...oh boy, then.

If those details are accurate then it's purely an expensive peripheral aimed at the very small sub-set of PlayStation fans that really want remote play for their PS5. Calling it a handheld console is a stretch.

Maybe the margins will be high enough that they'll turn a large enough profit off the back of a few hundred thousand sold? Otherwise I don't see how it can possibly be a success; it has way less going for it than even the Vita (how many of those did the remote play feature shift?) or WiiU.

Nope, the Chromecast with Google TV cannot stream GeForce Now without freezing at some point cause it's too weak

Lololol

If it can act and/or serve as a WiiU pad, offering maps (very good for MK8 and, mainly, Monster Hunter) and other elements like I used to have back then, I might be interested.

No way this is real, this would have less of a future than the Vita. At least the Vita was its own handheld, this would be a second screen for the PS5 and nothing else.

I have a current generation Chromecast that has 2GB of Ram, 1.9GHZ ARM Cortex A55 Quad-Core, Mali G31 GPU.
It runs everything flawlessly. It is the lowest of the low-end for today hardware.

If you are running it on the older Chromcasts that only have 256MB-512MB of memory, then that's your issue.

Right price I could see getting one, for the kids. They could play ps5 while I'm using the TV. But for most this seems odd.

Seriously though, unless there's more to it or the report is inaccurate, this sounds like a bad idea.
Remote Play has been a thing for ages, I can't see many folks wanting to buy a dedicated piece of kit just for that.

The reality is, Sony are kinda locked out of the portable market whether they like it or not. Making a new dedicated portable wouldn't be viable, as Sony found out last gen, much like Nintendo did, that they can't support both a home console and a modern handheld at the same time. Any new handheld from them would only get scraps as the bulk of their resources would be dedicated to the PS5, and therefore it would meet the same fate as the Vita.

This device feels like an attempt to try to get around this problem, but in doing so it has contorted itself into such an oddity that it has limited appeal.

Not as bad: this Q Lite is optional.