On the other hand, it seems like despite having 4TF to demand top billing, other facets are rumored to be unchanged like HDD bandwidth, and Sony doesn't want this premium product to have premium game play features.
A fun speculation point is that GCN as it is currently known cannot support the 36 CU load with the PS4's apparent 2 shader engines. GCN allows for 16 CUs per engine, which is fine for 20 physical CUs, but that would cap Neo at 32 CUs.
Possibly, Sony could pay for that restriction to be tweaked.
Otherwise, it needs a bump in the shader engine count--which has implications for the per-engine setup hardware and ROP partition. The PS4 has 32 ROPs, so a scenario where there are 4 shader engines could subdivide the pool and still leave a number per engine that doesn't depart from other GCN configurations if Sony opted to not double the count.