As a market leader, you need to continue being the leader and the innovator. They're releasing a brand new product in October that realistically is on a hardware that's lacking.
My prediction, Microsoft's next hardware is going to comply with the minimum specs of Oculus Rift.
Well looking at all the positive previews and all the software that's currently being developed for the current PS4, I would say developers feel it's fine. PSVR is not the same as Oculous and does things differently. And a closed platform is something you can specifically engineer, and program for the hardware to be used in a more efficient way.
Why are there so many titles? I don't here developers crying about compute power. I also see developers not to happy from what patrick kelp talked about to here there was going to be something else they would have to scale their game/engine for.
In theory it seems like it should work, but consoles are not phones or yearly iterations, that people spend 59.99 on monthly or more for games. And phones for the most part when it comes to apps most of them depending if the OS is ancient will run, and therewont be any difference. My remote desktop app on my old 4.1.2 android sony looks and runs the same way on my new Android 5.1, there are no advantages. I bought a newer phone because my older one was dying.
These are not getting bogged down, if they are, it's on the developers. If they can seriously program for PS3 which was a nightmare, they can get their engines to run on PS4/XBOX.
We should have them strive higher. Japanese development outside of a couple of titles, I'v rarely had to have them download a giant 5-8gb patch to work. Gravity rush, resident evil revelations 2 complete, kiwami, dragon quest hereos. Just worked out the box not installing giant patches.
So if Japan can get their shit together in terms of programming and optimization of their engines so can't the rest of the development world.
No need to refresh at 2-3 years in a generation. If it's close to the end like 2018 and beyond and they want to continue making games, since PS5 will be same to similar architecture, then a refresh to keep people interested in a cheaper older console works. But not so soon in a generation.
If they had issues with VR, then they could have put it on the back burner, until later. ANd seeing as no one has said anything about hurdles developing PS VR games on PS4 interms of performance, and seeing reactions from devs Patrick talked to, I call this is unneeded and a bad decision for the long run.