Will the PlayStation 5 be backwards compatible? Yes. Will it be backwards compatible with all PlayStation games? We don't know (and we have our doubts). This is a topic that's been bouncing back and forth around the web for months -- maybe even years -- and now it's blown up all over again. Perhaps it's to be expected with the PS5's supposed reveal event taking place soon (February if numerous rumours are to be believed), but the sheer amount of misinformation that's going around right now is pretty crazy.
Take this YouTube video, for example. It's currently being used as a source across numerous gaming sites despite the fact that it's... Well, it's inaccurate. From a channel named TheGamer (which has a whopping 1.54 million subscribers, we should add), the description reads: "Sony's PS5 has officially confirmed that it has full backwards compatibility with all previous PlayStation consoles." Except absolutely nothing has been "officially confirmed".
Indeed, Sony's only confirmed that PS4 games will be playable on PS5 -- and even then we don't quite know how far that functionality will extend. Is there a chance that the PS5 will be able to play PS3, PS2, and PSone titles? Again, we don't know -- anything is possible. But at the time of writing, nothing official has been said.
Now look, we know YouTube's a competitive platform, but come on -- let's not spread this kind of stuff around like it's fact. At least take the Push Square route and just tag everything as a rumour. Ahem.