For months now, there have been rumors of an updated PlayStation console. Something more capable than the PlayStation 4, offering things like 4K playback, support for faster and larger storage, and better hardware for PlayStation VR. That last point is obviously an important one, as Sony has not yet launched their first effort in VR gaming. This leaves a lot of folks who have not stepped up for pre-order yet wondering if it's worth waiting for Sony to release a complete VR package, with the PlayStation Neo powering a PlayStation VR.
Is it worth waiting for PlayStation Neo? Absolutely not.
First, there's nothing wrong with the PlayStation 4.
PlayStation VR has been developed for the PlayStation 4, and it's already really good. The incredible list of games launching to support PlayStation VR were all designed on PlayStation 4 developer kits, and are all designed to play well on the PlayStation 4. The demo stations you can go check out at Best Buy and Gamestop locations all over the US right now are powered by PlayStation 4 consoles. There is nothing wrong with the PlayStation 4's ability to power PlayStation VR. The finished games that are available to demo right now are not going to play any better with a more capable PlayStation console. If you already have a PlayStation 4, you are already VR-ready.
Second, we have no idea when the PlayStation Neo will launch.
Sony has not officially said anything about a PlayStation 4.5 or PS Neo yet. There's been no official announcement, no timeline for launch, no real way of knowing what will be inside this "more capable" console. Game blogs all over the world were sure Sony was going to make a grand unveil during their E3 keynote this year, and no such thing happened.
This isn't something we're going to see anytime soon, certainly not soon after the PlayStation VR launch. With no official statements, if you already own a PS4 there's no reason to hold your breath for something better. If you do not own a PS4 and are looking to get the PlayStation VR kit all at once, there's no way to know how long you're going to be waiting for what may only be marginally better. You'd be better served enjoying yourself now.
Basically, don't worry about it.
As much fun as it is to think about the future, especially when that future involves cool VR hardware, there's very little about PlayStation Neo as we know it so far that sounds like it's actually worth waiting for. Assuming Sony actually is planning on refreshing the PlayStation 4 next year to compete with Microsoft's VR-ready Project Scorpio refresh to the Xbox One, Sony isn't going to actively work to create a divide in their user base.
The PlayStation 4 is great as it is.
Gameplay across the two versions of the console are going to be as close to identical as possible, and that's going to be by design. It's highly unlikely Sony would encourage a scenario in which PlayStation VR games are only released on the PlayStation Neo, and even if that happened there's going to be little desire from game manufacturers to only serve games to the clearly smaller audience.
The PlayStation 4 is great as it is, and it handles PlayStation VR just fine. Go and enjoy it for yourself!