It's basically gonna copy with the already available digital edition but with a possible physical cd add-on.

As for the "slim" factor, we'll need to see because I wonder how much they can actually reduce the PS5 size significantly or if the difference's gonna end up marginal

It won't be a slim, impossible to have a major die shrink.

I'm sure this one will replace the digital only version.

It will have different components to be able to plug in a external disc drive.

But I dont think it'll be the equivalent of the previous generations' slim versions of the consoles but will likely get its name.

But we'll likely see soon. I'm thinking August or TGS (September) if this year .

Millions, but not because of the cost of the drive itself. But because Sony will get a bigger share of each game sale when it's digital straight from their own store instead of a physical copy from a third party retailer. Publishers also profit more from digital.

@Random_Matt 
The heatsink/heatpipes and power supply are taking up most of the space.

By moving those to the outside, a guy on youtube made his own functional PS5 Slim.

Obviousy Sony have much greater leeway in this since they can redesigning components, but it's interesting to see how small you can technically make the current PS5 in concept, even if it's not very practical. 

I have seen external BD-Rom drives at my local PC store for $25 AUD. - About $15 USD. - That includes cables, case, packaging etc'.

So I would imagine, Sony buying in Bulk and stripping all that fluff would get it cheaper.

But... There is the cost of Digital Distribution vs Physical.

Am I the only one who thinks the current PS5 is the ugliest console they have ever made?

Will likely pick one up as my partner has my PS5 OG.

 Atari Jaguar is worse. Also the ZeeBo.

Well I hope its a slim version because thats the only thing that makes sense, theres barely any game that takes full advantage of the PS5 for them to be thinking about launching a PS5 Pro of sorts.

If it's smaller is it even a PS5?