Imo it'll be a PS4 with exactly the same graphics as older PS4's in games, what they will have added is HDMI 2 or something like that to allow them to display on 4K screens. Then it will be able to stream 4K content, and have a 4K menu screen, and maybe upscale to 4k. The games will still be rendered internally at the same res, and the AMD chip will be near well identical.