I've barely got around to playing my PS4 since I bought it, so yeah it would be a blow...
However, I'm so far behind the gaming curve that it wouldn't really affect me either. I'd still be playing the first few years PS4 games well into the PS4.5 lifecycle.
Let's wait and see what the PS4.5 is anyway before jumping to conclusions!
It could make zero difference to a lot of us, if we can't afford 4k TV's and the like anyway. Maybe it's something for the very tech savvy and there'll be a PSVR bundle. In much the same way there's been no real reason to buy the New 3DS.
Tbh, incremental upgrades were always going to happen this gen. The PS4 life was never going to last as long as the PS3 without some kind of update.