This seems like the only way it has a shot. I don’t know that PS5 games are necessary, but PS4 absolutely are. Make it a portable PS4, and there is a real market there. The only downside is, it wouldn’t work with PS4 discs, which would limit sales to existing digital only owners. Also, it would be on a system without a significant new game in site. The library is 99% done. There isn’t a must play on the horizon to market. You have to hope the existing exclusives is enough.
Honestly, I talked myself out of it. It is a bigger risk than I initially thought.