As someone who bought at launch, it does put me out a little that not even three years later my console is outdated. This is where the console and tech market is headed, though, for better or worse. PC gaming has always had the advantage of incremental upgrades; if your GPU is a little out of date, you can buy a new one (and potentially sell the old one, which can defray the cost of the new one slightly). But with console gaming, when you're outdated, you've gotta drop a few hundred on a new machine, and trade-in values are fairly low when new consoles replace the old.
I'm interested to see what direction Sony takes with the PS4K. Allowing for better graphics while still ensuring game compatibility seems to me the fairest option and one that's supported by rumors. After all, with the huge market share the PS4 currently has, it wouldn't make sense to alienate that userbase with PS4K "exclusive" games so soon after launch, especially when the PS4 is still arguably suffering from a small library. That said, if the PS4K doesn't offer many advantages (only 4K resolution support, for example), I can't see anyone but the most dedicated gamers (or the ones with huge disposable incomes) making the jump from PS4 to PS4K. Very few people have 4K TVs anyway, and the ones on the market are still very expensive.
