I don't think them hiding behind the PS4/X-box brand for these consoles and the refreshes will do good either. If it's 2018 and they're just doing a refresh of the consoles released in 2010... that's not going to bring people on board.
They either need to call it a spade/"a refreshed PS4!" or need to name it PS5 and accept they're not gonna chase the dragon that is PC VR specs.
Patrick Klepek said devs said the improvements would be for games as well. We aren't going to get traditional generations anymore, instead there's going to be upgrades every 3-5 years, but the software and architecture will remain the same.
...If that is truly the case, it boggles my mind why people wouldn't just buy their own PC or a Steambox and upgrade the GPU/CPU's in that if they want to chase that dragon. I don't think a part/upgrade rat-race is good for either side (PC/Console) because people simply do not want to continue to pay $400 a year to get a refresh. Or maybe I'm just out of touch because people blindly do that for the iPhone despite your old iPhone still being good for a good 2-5 years before needing to upgrade. So... 
The PS5 will be a PS4.5 when it comes to additions and revisions, that would be my takeaway from all of this. Graphics have already been pushed to their limits, and the games that sell well on PC aren't graphical powerhouses. Developers were given a heads up by Sony themselves that they should tailor their expectations on what the next generation would entail for hardware, it isn't like they asked Sony to do this.
So when Patrick said devs said its for games themselves, I didn't take that as "these current consoles are too weak to make games we want to", I took what devs told him as "Sony told us what they're expecting their next console to be, and its gonna be a beefier PS4."
The Xbone and PS4 already sold and marketed based on services and gimmicks, the age of selling a console based on what hardware is sports is dead.