The PlayStation 5 is set to release in 2020 and fans are already hyping themselves up. It's assumed that the actual reveal event for Sony's new hardware will take place during the first couple of months of the new year where they're expected to also reveal some new games.

Rumors have been circulating for years now about the PlayStation 5 with some of them being backed by leakers with strong credibility. Let's now take a look at 5 rumors that have fans excited about the PlayStation 5, and 5 that are making people worried.

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10 Worried: Terrible Launch Lineup

This is less of a rumor and simply a track record for console launches going back decades. Gamers have become accustomed to the notion that every console launch is going to include a slate of decent games, with a couple of good titles thrown in the mix.

There very rarely are system sellers at launch and players usually have to wait months to years before the titles that justify the purchase of a new console are released. It should be expected for the PlayStation 5 to follow suit in the same way.

9 Excited: Cross-Play & PC

For the longest time, PlayStation has pitched itself as the prestige gaming platform where their exclusives were only playable on their hardware. Over the last couple of years, players have seen some of their favorite PlayStation exclusives make their way over to PC and they've also seen the company open their doors to multiplayer cross-play.

It seems that this will only continue to expand on the PlayStation 5 unless something drastic changes. You never know with Jim Ryan in charge.

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8 Worried: Limited Backwards Compatibility

So far it's been confirmed that PlayStation 5 will be completely backward compatible with the PlayStation 4. This seemingly means that on Day 1 owners will be able to play any and all games they owned on their PlayStation 4.

The worry for fans is that this is where the program will start and stop. Jim Ryan, the head of SIE, has made his comments clear regarding backward compatibility, and he just doesn't get the appeal. PlayStation's storied history needs to be cherished, not abandoned.

7 Excited: Keeping It Rolling

PlayStation really just needs to continue doing what they currently have been doing and things should be fine. They've had a good cadence when it comes to releasing large AAA console exclusives and almost all of them have been well received.

At the end of the day players are confident in PlayStation because even if Jim Ryan totally screws up the reveal event, fans know they'll still be getting some of the highest quality experiences from some of the most talented teams in the industry.

6 Worried: Less Powerful Than The Xbox

A recent rumor has surfaced over at a reliable Microsoft leaker, Windows Central, that states that they've heard from multiple sources that Project Scarlett will be packing an impressive 12 teraflops as well as 16 gigabytes of RAM. With everything currently known about the PlayStation 5, it seems that its GPU can land anywhere between 8 to 12 teraflops.

This means that there's a chance it could either be on par with the next Xbox or that it could come in significantly weaker than its competitor.

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5 Excited: Horizon Zero Dawn 2

Horizon Zero Dawn wasn't just one of the best PlayStation 4 exclusives, it managed to bring Guerrilla Games into the fold as a premier developer in the industry. The team was often relegated to developing Killzone games for the launch of PlayStation's hardware, but they finally had a chance to show off their talent.

It's highly unlikely that the anticipated sequel is there Day 1, but don't be surprised if Aloy pops up once again before the end of 2020 in some sort of teaser or reveal trailer.

4 Worried: Jim Ryan's Iron Fist

PlayStation in 2019 is in a completely different place structure-wise than what it was in 2013 when it launched the PlayStation 4. Jim Ryan is now the head of Sony Interactive Entertainment and most of the personalities that helped sell the launch of the last console are gone.

In recent years Ryan has also said some puzzling and head-scratching things in interviews when it comes to the future and direction of the PlayStation brand. Here's hoping he doesn't muddy the waters with the PlayStation 5.

3 Excited: More Powerful Than Xbox

A big point of emphasis PlayStation touted when it came to the launch of the PlayStation 4 was that they had the most powerful console on the market. It was slightly more powerful than the Xbox One, but their stance was indeed true.

Since then the Xbox One X has taken the crown and is currently the most powerful console, easily outdoing the also impressive PlayStation 4 Pro. It's not hard to imagine that the architect of the PlayStation 5, Mark Cerny, wants to tout the best hardware on the market once again.

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2 Worried: $500 Launch Price

At this point, everyone remembers the terrible launch that the PlayStation 3 had. It was difficult for developers to work with and it also happened to be super expensive as it launched at a price of $600.

That type of pricing can't happen in the gaming space anymore if a company wants the hardware to sell and compete. That being said, the PlayStation 5 is being rumored to pack a serious punch and that type of power doesn't come cheap. Don't hold your breath if you're thinking the PlayStation 5 won't be $500.

1 Excited: Under $400

PlayStation was dominant during the current, but soon to be previous console generation. They got off to an early lead thanks to Xbox fumbling their own messaging out the gate, but it also helped that the PlayStation 4 was $100 cheaper than the Xbox One at launch.

With all of the rumors floating around it wouldn't be surprising if both consoles launched at the same price. The great thing is that the price hasn't leaked and rumors are fluctuating around the idea that the PlayStation 5 launches at $400.

NEXT: PlayStation 5: 10 Games Rumored To Be Coming To The Next-Gen Console