Straight from the horses mouth, people:
“We are working on utilizing PS2 emulation technology to bring PS2 games forward to the current generation,” via a Sony representative to WIRED via email.
But that’s all we’ve got. It’s something, not a huge something, but something none the less. Here’s the thing though: There are already games using this emulation software on your PS4. Certain Star Wars: Battlefront console bundles also come with several classic games, such as Super Star Wars, Star Wars: Bounty Hunter, and several others. Guess what software those use that you didn’t even know that you had already. Go ahead, guess.
I like the way Wired explains the emulation software, so we’re going to borrow it for those who would like a little bit of info about how it works:
Emulators mimic the environment of a specific computing environment, in this case the environment of the PlayStation 2 console. This allows PS2 games to run on the PS4 as if they were on their native machine, but in higher resolution in some cases.
So, in Layman’s terms, it lets you run an older game, but with the pretty that you’ve gotten used to with your new, snazzy console.
As of right now, that statement above is all that Sony has said on the subject, but to me it holds promise for those of us wishing for this feature. For now, we get to do like the rest of the gaming world: watch and wait.