PlayStation 4 Neo, internally, is slightly different than the current PS4. It's not a gigantic jump in power, but it is a notable lift. Here's the full rundown, care of leaked specs:
- It's got the same main processor, but it's been tweaked to run slightly faster.
- It's got a new graphics processor that's far more capable than the current PS4's graphics processor (just over twice as powerful).
- It's got the same amount of memory, but it's also been tweaked to handle more equations.
All of which is to say: No, you don't need to replace your current PlayStation 4 with Neo. And if you're looking for a major jump in game console hardware, the new Xbox One ("Project Scorpio") coming in 2017 is the one to buy.