It's one thing for PlayStation 4 to not be backwards compatible with PlayStation 3 media. Sony took backwards compatibility out of PS3, after all, so it was expected. It is disappointing, however, to learn that players will not be able to carry over current-gen PSN purchases to PS4.
Sony Worldwide Studios' President Shuhei Yoshida recently confirmed this. While Sony will try to make PS3 games playable in some form—through Gaikai's cloud technology, for instance—PSN titles will not transfer.
And that whole used games issue everyone was buzzing about? Sony seems to imply that won't come to fruition as many feared, but their statement was pretty vague. Speaking to Game Informer, they said, "We are just now announcing the basic vision and strategy of PS4 and will have more information to share regarding used games later this year. But PlayStation has a long history of keeping its gamers happy and we won't make decisions that damage our relationship with them."