I mean if Neo is only worth it on a 4k TV
In that case those people can happily stay with their PS4 until the next generation of consoles without having to buy anything new, so they should be happy

Just until a few months ago people were crying about the death of traditional console cycles, now they should go mad if they don't have enough reason to buy new hardware again?

Based on this documentation it's clear that PS4 Neo is still a PS4, it's not a new console cycle.
It is mainly designed to target resolutions higher than 1080p at possibly higher frame rates.
So yeah if you don't have a UHD TV you're losing much of the point behind this high end model of PS4.