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To answer some of your questions:
It's backwards compatible. But just with the PS4. No PS3 or 2 games will be played.
Today's news in regards to consoles is on the grim side is that roughly 5-6 million PS5s will be made in the first 2 quarters come launch time due to the 'rona. But Sony is saying it's because they're still kicking around the price an the components will be hard to come by. So unless you get a preorder the second you hear about it, they're likely gonna be tough to come by. 7.5 million PS4s were sold in the first 2 quarters of launch.
I think they'll launch when they're supposed to. If not a tad later. They'll no doubt want to be right there with Microsoft when their new Xbox launches.
Launch titles? No idea.
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