I guess the biggest problem with this is that the games that come out on the PS4K will have to be dumbed down so they can run on the PS4 at a minimum of 30fps. Will some games be exclusive to the PS4K? Is Microsoft also going to go this route? If they don't, most 3rd party games will have to be designed for the Xbox One and original PS4. So you are not going to get a whole lot of third party content that takes advantage of this aside from the resolution.
My feeling is if Sony can convince gamers to buy another Playstation every year or 2, they should do it. They are a business. Why not make money every year with a new design if people are willing to pay $400 for it? They are leaving money on the table.
Just like DRM, it's up for gamers to decide. People have every right not to buy it. I'm not going to be buying another Playstation because the exclusive lineup really doesn't interest me. With the exception of Uncharted 4 , Bloodborne, and maybe Horizon Zero Dawn and Last Guardian, Sony has had a hard time this generation creating exclusive content that appeals to me. I don't care how good their marketing is, I don't think Sony will convince me to buy another Playstation without showing me the games first.