He stated that the company was in the “early stages” of creating the device, which is still years away from a possible launch.
Sounds like it's not a real thing yet, in my opinion. Companies as big as Sony are always "exploring" new products, that doesn't mean they'll be real. For the record, I love my Steam Deck, and I hope the portable market expands. But this isn't real news, IMO.
It was a better looking device too. I would buy a vita right now if it played even just a fraction of the PS5 library and streamed the rest. I gave serious thought to buying one and modding it for retro games. I have never once considered the portal and I've had every PlayStation console except the first PS1 and their VR stuff.
From the sound of it, it will just use PS5 OS. So probably not. But every system after PS1 other than the PS4 has had some sort of backwards compatibility.
Besides access to console-exclusive titles, what does this thing do better than a Steam Deck? The fact that it requires an internet connection to be useful is an instant turn off.
Sony and Nintendo are the only ones still doing console exclusives. Sony only cherry pick what they release elsewhere. Even if this handheld doesn't have specific exclusives for it itself (if it is for playing games you can play on ps4/5 and nothing else) it still has value in the sense that it's still a handheld and can be played anywhere rather than tethered to a tv or monitor.