Hmmm, apparently P5 was started for PS3/X360, moved to PS4/Xbone or at least spec'd for those systems up until the bankruptcy and Sega buying them. Now it's PS3 only in a year.
If they were smart and efficient, since the whole reason P5 is taking so long is redoing the entire list of megaten demon models for use in the next dozen games, they'd pull a Gran Turismo 5, and make all the demons in 1080p and as detailed as they want, then scale them down for PS3. So at least they have the demons around for the next dozen games on PS4, since in 2016+ PS3 isn't going to be very viable.
If they were smarter, and going by patterns of P3P and P4Golden, they'd do that and then in mid/late 2015 they'd do P5______ for PS4 (and maybe Xbone in the west).