My main point was already in my previous post, but I'll repeat. Even if we get a significantly more powerful console, it is practically impossible that Sony will not abandon suppport for the OG PS4. They have been making all the right moves this gen, there is no way they will ruin it all with one disastrous move. So, with the OG PS4 to develop games for as well, we'll be seeing something very similar to cross gen games anyway. I know PC gamers love GPU tech constantly getting improved, but the chance for a big leap in visuals with the release of this hypothetical PS4.5 is next to none. In the meantime, enjoy Star Citizen!
Also, I hate to break it to you, but option 3 seems to be the most likely scenario for now.
To a degree games will have to be scaled down to whatever the first batch of consoles can handle but there should be visual effects added to those new consoles' skus. Better than nothing.
Option 3 would go counter to everything Kotaku leaked.