Many territories around the world have unboxed their PS5.
Most of the globe is still waiting, but for those who are considering purchasing the Next Gen console - you may already be mentally saying goodbye to your PS4.
However, the latest words from Sony suggests that there may be some life in the old dog yet.
The Last Dance
You may be preparing to sell on your PS4, but you want to think again.
Speaking to AV Watch, Sony Senior Vice President of Global Product Strategy and Management Hideaki Nishino said:
"In fact, it may not be easy to develop PS5-specific development from day one.
"For the time being, development for PS4 is also necessary.
"It’s not a PlayStation unless you prepare a system that developers can use up over several years, so I think there is great potential in the future.
"In terms of compatibility, it is important to move PS4 titles on PS5, but I have insisted that forward compatibility (supplying the same titles as PS5 to PS4) is important.
"The current assumption is that the transition from PS4 to PS5 will take about three years.
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"In the meantime, how can I keep buying games on PS4? Can the purchased games be played on PS5? That is important."
So, before you throw out that PS4 - it may be in your best interest to look after it, and maybe save the pennies before you move to PS5.
Looking at the past
Yes, if you want the best gaming experience right now - upgrade to PS5.
But, ultimately, is it worth it?
Looking back to the PS4 release in 2013, we still had some bangers on PS3 three years later.
They included the Resident Evil 0 HD Remaster, Red Dead Redemption and Doom!
Looking back on the biggest PS4 release that year, Digital Spy selected Lego Marvel's Avengers, Plants vs Zombies: Garden Warfare 2 and the Witness - not exactly ground-breaking AAA titles.
But, if you can hold fire - make the most out of your PS4, you are on course to save some cash.
The PS4 at launch was £349 / $399 and three years later, the PS4 Pro released for the same price, while the Slim became available for £259 / $299.
Given how huge the PS5 is (especially compared to its Xbox Series X counterpart), you may be tempted to jump on a slimmed down version in a few years time.
Ultimately, the decision is down to you - the best gaming experience on not fully optimised games, or joining the party fashionably late?
BUY NOW: PlayStation 5 from Amazon