http://www.eurogamer.net/articles/2016-06-10-sony-confirms-playstation-4k
So not a transparent hardware compatibility, enough that some games may not play on Neo.
It will be interesting to see whether Chipworks-now-TechInsights will have a go at the Neo SOC at launch like it did with Orbis.
I'd hope "supporting" Neo means using its features and benefits, rather than just being functional on it. The whole established software base would be as lost as if Neo were a full next-gen if the games couldn't play on it