Anyone who seriously thinks the PS4 Neo will play games at 4k needs their head examined.
It'll have HDMI 2.0 and UHD Blu-ray support, and the GPU will be faster than a standard PS4, but it'll just mean PlayStation VR will have enough power to run at a decent whip. They will be targeting 1080p/60hz as currently the PS4 tends to be locked 30fps.
Pretty much. Even at twice the power it will only go from 30 to 60fps. 4k not a chance in hell of even 30fps. If the 1080 can't do it a ps4 certainly won't. Optimized or not.