The 2 biggest "fears" people have is that a)PS4 games will now run worst b)people salty they just bought one within the last year.
a) is unfounded and people should relax. Stop using the 3DS thing. Think of it this way, games are suffering right now. We are at a point where some games just will not run constant 30FPS/1080p due to hardware or how technical the game is. Yea if some devs really put the effort in their games, performance will display their hard work but most arent there so we have games with not so smooth performance. (1st party would be the exception i think as they tend to have better grasp of tools)
PS4K would alleviate that by "raising" the ceiling or limit they have to get a smooth 30/1080p on PS4k. OG PS4 versions will run like it would without the PS4k ever existing. (Imagine Just Cause 3 releasing after PS4k reveal...I could see the Neo version running smoother at 1080p and the OG version running like it does right now.) I know this is an optimist look but I do not see all games running like Just Cause 3 all of the sudden.
b) On this, I feel you. I'm glad I jumped in day 1 because I dont mind re-selling my almost 3 yr old system. I look forward to trading it in GS for ~$200 and buy the PS4k. I dont expect a trade in "system" from Sony. Your best bet is to resell on ebay/CL/GS. Those who jumped day 1 will benefit the most as we had the chance to play from day one and can upgrade without feeling buyer's remorse.
Now I can make a suggesting to ALL GAFers and gamers in general so please read the following. Since it seems the gaming market will change to a new model such as releasing new revisions or "mid gen" upgrades, It's highly recommended to jump day1. Well why not just wait an extra 3 yrs after the new gen starts for the revision? Sure you can do that and miss out on a bunch of games if you like. But now knowing that a mid-gen refresh is coming, might as well buy it when the gen starts and then resell close to expected release of said new hardware and get the new shiny system for ~half while not having missed "current gen" gaming for the last 3 yrs.
I dont see an issue with this "model". By the time PS5 release, it might be 6 yrs after PS4 launched. (lets assume PS5 will release in the next 3-4 yrs) By then, PC gaming will have moved along much further as usual, better hardware tech progressions as usual. I see no issue for PS5 to come to life. I'm not sure what a PS4k will do to future PS systems. Are people not willing to buy a PS5 in 3-4 yrs? Hmm If you see Uncharted 5 with CG graphics and a price point of $400, I think some might change their tune quick. Sure they can wait an extra 3 years for PS5.5 but then gaming might not be something that your interested in the 1st place.