Don't report clickbait unconfirmed rumours as news
Ugh, I hate being the cynical realist who has to remind people to calm the heck down, cos this is just a rumour. Yesterday was literally a rumourmill day full of nonsense. Let me break it down with some reasoning why there won't be a 4k console this year or even anytime soon. Feel free to debate against if you feel any of the following is invalid:
1) The PS4 and XB1 are still relatively young. They haven't even been out for 3 years and they are already being replaced/upgraded? Doesn't seem right and more importantly, folks who already bought existing models would just ragequit and move over to PC or something. I know there's a lot of salt and hate over similar iterations in other types of hardware *cough* iPhone *cough*
2) 4k gaming on console is a long way off. Considering that even PCs require well over a grand worth of high end hardware, just to get games playable at 4k30 with reduced settings. Either a 2016 4k console will be very expensive or it'll be a while yet before we get 4k consoles. And I know a lot of folks won't be willing to spend PC prices on consoles...
3) Modern consoles haven't even truly hit 1080p60, many of these console titles fail to maintain 60fps at true 1080p. For them to jump straight to 4k when they haven't even mastered 1080p? Do they think they can do 4k as well as they do 1080p? Or is console 4k just going to be lower native resolution upscaled?
4) 4k TVs. Now I know this is mainly a PC hardware forum and that 4k PC monitors are cheaper, but the majority of console gamers use their consoles on TV screens. And we all know how expensive 4K TVs are right now... they make the coveted G-sync 1440p monitors look cheap. Not many people would be interested in buying a 4k TV in addition, or everyone will move over to 4k monitors out of affordability. So even if this 4k functionality was just 4k Blu-rays... how many people do you think could honestly use it?
5) Previous attempts at doing this. Remember the Nintendo 64 expansion pack? Remember the 32X for Sega Genesis? How many games used those? How well did they sell? And those were just add-ons, this sounds to be a whole console. Move forward to smaller things like the 'new' 3DS. Oh and I almost forgot the PSP Go. They barely barely changed anything and there's very little reason to buy one if one already owns previous models. Granted, only companies like Nintendo and Sega have really tried things like this.
Please stop taking random unconfirmed rumours as gospel and overhype things to the point of unrealistic expectations. I really hate rumours right now. I've avoided a lot of places on the internet due to the stinking pile of rumours for things like Nintendo NX and upcoming games.
To play the Devil's Advocate:
Now, let's consider this isn't a rumour and is somehow proven legit. What could it be then? As many folks have stated, the 4k functionality, if any, likely alludes to 4k blu-ray. Looking around, I don't see too many 4k blu-rays or much 4k content. I know folks with 4k TVs are feeling the burn because there really isn't much 4k content avilable right now for them to consume. I guess one could argue such compatibility is future-proofing however.
The only other thing I can think of is PSVR. But the thing is.. PSVR comes with an extra box for increased processing power doesn't it? So perhaps this so called PS4.5 is actually a 'VR edition' of the PS4. It's very possible that it has the functionality of the extra VR box built-in and this thing comes bundled with a PSVR. That's the only thing that I can think of that seems viable. Perhaps that is exactly what this is. A more compact and 'easier' console VR experience.
TLDR Stop getting your knickers in a twist, 4k console gaming isn't happening for a long time yet. If anything, this is likely a PSVR bundle of sorts.