PS5 future is rather dim once Neo has surfaced the release date.

The PlayStation 4.5 “NEO” is definitely happening. Reliable information has surfaced across multiple reputable websites from multiple game development sources that Sony does indeed have a console planned to bring the PlayStation 4 up to par with current gen technology.
ps4

There’s a lot of speculation on whether the new console, codenamed “NEO” will bridge the gap between the PlayStation 4 and a next generation system, the PlayStation 5. The response provided by Sony’s Shuhei Yoshida to Lorne Lanning suggests that the PS5 won’t happen and isn’t even being planned.
In an interview with Lorne Lanning, GameInformer learned the following information at DICE:
“I said, ‘What does the PlayStation 5 look like?’ And he said, ‘You mean if…’ And I was like, ‘Whoa. Are you willing to say that on stage?’ And he said, ‘Yeah, it’s an if.’”
Given that the PlayStation 4 is getting upgraded with the release of the “NEO”, and talk about a more powerful version of the Xbox One, it seems very likely that we won’t be seeing the PlayStation 5 any time soon—if we ever do. This could very much be the final generation of consoles, but we’ll have to see what both companies have to actually announce in the coming months, if not years.
* Vocabulary:
- surface (v): (news) be known
e.g.: the "No-where" newspaper has surfaced that the Bibop Corp is going to close down this month.
- be up to par with (exp): at an expected standard.
e.g.: - The market research has not reportedly been up to par with the least requirements.
        - I am not up to par today.
- bridge the gap (exp): to fill out the gap, make the difference smaller and smaller.
e.g.: As an advocate for the middle class, she, indeed, would like to bridge the gap by raising money for the have-nots and the homeless.

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