People need to stop saying Vita failed, and a new portable wouldnt work. The Vita was hardware wise unfit for purpose (no L2, R2, LS, RS buttons). That kneecapped the thing straight away, because even if you plunked down the money for a huge proprietary storage and worked-around other kneecaps and adjusted for other shortcomings like the sim data carrier choice, you didn't have all the needed buttons to remote play/play digital "home console games". At least not without cursing out that stupid back touchpad. We've never seen what a button rich/kneecap lacking portable handheld could be from Sony. That VitaTV, PSVue TV service, and the recent button-less Xperia Phone Steaming Fan were complete braindead moves.
People need to stop complaining about splitting the game libraries. No one is out here asking for a PSP/Vita sequel with its own library. Switch proved that the era for that is gone now. It's about extending the access too your own games, gamesaves, party chat integration, working around life's issues to leverage the portability to our advantage when not able to be on big TV etc.
We want, for lack of a better phrasing, a Portable PS4. That solves just about any issue thrown at the Vita, most of the way. A PS4 Portable SKU would have: local storage priced normally to dl games onto. It would have all the needed buttons. PS1, 2, 3, 4 games on PS+ streaming/downloading, Remote Play into PS5. It still needs all those things to not become a brick when out of the house/if WiFi/data goes down. Otherwise it's not fit for purpose, and would be less than we can achieve currently on a smartphone's Remote Play app. We'd end up weighing pockets-down with phone/phone shell or phone, controller and attachment clip, and that's a lot to carry round if data/WiFi isn't gonna play nicely.
PS4 is still getting games, recent GOW and HFW. If some Jap devs aren't great with PS5 coding tricks, it gives them a PS4 level home console and portable console to release onto. Sony themselves aren't losing people, especially the Jap market in question, to Nintendo's Switch, or the Western market to Steam Deck. Deck has no games to call it's own AFAIK, but it has the portability factor and emulation/BC. And plenty of people like playing their old games on the go, even Sony devs love their Decks, but Sony don't have BC on lock properly yet. Switch has the current games and the portability, but not the power or 3rd party. XB has BC... and if it throws GP everywhere it'll have the portability aspect down pat too.
Sony need to get their BC for PS3 in order. They need to get a PS4 Portable out there. Vita cannot remote play a PS5 and is lacking buttons, it's functionally obsolete. You're not telling me that when PS+ streaming contains a cut-down version of PS3's OS (I believe this is essentially Wii U's "Wii Mode"?), and the advancement of 10 years tech since launch Vita, that a PS4 Portable is un-doable. I simply won't believe it.
Sony got the games, the 3rd party relationships, the powerful hardware comparing to competitors... It just doesn't have the bloody PS4P. This "Remote Play Q Controller" is another half-gimped not fit for purpose/kneecapped from its full potential... AGAIN!
Does that just about cover it?