Nah they set expectations right here, people should know. I think this will be a big show for PS4 still and we'll still get some PS5 stuff so should be okay. If they immediately follow it up with PS5 news people will be happy.
Yes they set expectations sure, but we know the internet, people will still baby. (Especially with how this week started for Sony) Follow up PS5 news can alleviate that of course, but as it stands that would probably still not be announced for at least a week or two after the event, even in the best case. Really seems like they want to have Lockhart and the Xbox price out there, before they play their big counter.
But again, I'm just imagining this from a partner perspective. Wouldn't you rather have your game shown in an event that millions are watching, because it's expected to have the PS5 news they have been waiting for than in an event that due to its expectations being set way lower a lot fewer will likely be watching?