Hearts and minds. And THAT matters. You can't take that for granted.
I am not sure that actually matters much for people that care about PS or PS2.
It is most likely, if it happens at all, a low cost low effort port of some emulators for the 12 people that wants to play PS and PS2 games on their PS5.
For People like me. I have three different models of PSX, one with PSIO, and one PSOne (with the LCD screen). Then I also have two PS2's (and beyond the context of this discussion, every model of every later PS console) (One PS2 is JP of course)
I have a few hundred original games for each of PS and PS2 and I play them regularly.
Right now I am about to finish up the last battle in Atelier Iris. Last year I played through Xenogears.
I have a dedicated room in my house just for my PS consoles and all the bookshelves of games I have.
I only play these games on genuine HW and using genuine CD/DVD games.
I am a super fanatic PS collector fanboi.
I could not care less about whether PS5 has support to emulate PS or PS2.
If you want to emulate these, you do it on your PC not your PS5.
My only regret with the PS and PS2 scene is that it is starting to get really EXPENSIVE to source replacement CRT TVs place I live.
I have a small cache of replacement TVs but they will not last forever.
I think I am clearly in the group of crazy PS fanatics and collectors. I have no desire to play PS or PS2 games via an emulator on PS5.
I don't care if they do include these emulators or not. I don't care at all, I just will never use it when I can play these games properly on proper genuine HW.
If they do actual market research about people that actually care about and play PS and PS2 games I am certain that almost everyone would shrug an say "don't care. you do you".
I am certain the same is true about Xbox fans but have no data to confirm.
(I have another spare room and I am thinking about dedicating it to XBox. I never owned one but one of my daughrers may gift me an original and a 360 but hardly any games. Anyone have links to where to purchase old original or 360 games for cheap and/or where to get lists of the best exclusives to start a collection from? I understand they had a lot of good exclusives and I figure it is never too late to get to the party and enjoy them.)