I really need to release at least one game before PS4 is replaced.
But anyway, Oct 2020 release.
New PSVR headset, compatible with current one. New PSVR move controllers. Upgraded tracking system, maybe wireless and more room scale.
Controller will be very similar to DS4. I don't really see any reason to change it. Maybe haptic feedback inside the buttons like the triggers on XBOX One. No screen on the controller. Touchpad will stay mostly for backwards compatibility, but I could see it being slightly redesigned.
Horizon 2 will be cross gen. Bloodborne spiritual sequel full exclusive. VR exclusives from London Studio and Media Molecule.
Release: Late 2021 Price: $399 / £350 VR: Don't really care but I'll say yes because VR might be really good by this point Launch games: Just give me some good games to play, PS4 launch was good enough so that quality or better Controller: Similar to DS4, maybe rework the touch pad and make it fit in the hand nicer like an xbox controller BC: YES
What do I expect?
Release: Nov. 2020 Price: $399 VR: Yes, new headset which is improved upon PSVR but around the same price. Maybe around this point sony will be pushing for more games to be VR as standard Launch games: Not so good, the last couple of years on PS4 will be so good leaving PS5 launch quite dry Controller: Basically a DS4 but small changes BC: No
BC seems like a given if it releases anytime soon. System architecture hasn't changed that much so PS5 should just be a PS4 Pro with everything upgraded. Also keeping things similar helps with the transition to next gen. Plus MS has it and makes Sony look bad for not having it.
Oh sure it'd be perfectly possible for them but Sony is a business and BC is nowhere near as profitable for them as remakes/ remasters/ re-releases are. I just don't see it, again unless they come under a lot of pressure from MS who do have it.