I think the way these rumours are being interpreted are wrong. More horsepower for the PlayStation VR headset surely wouldn’t hurt, but consider the target market: right now, the target market of PS4VR is (everyone with PS4) * (headset adoption rate). Now consider it as (everyone with PS4K) * (headset adoption rate). Getting devs to target the first market is hard enough; the second is impossible, and it could very easily render PSVR stillborn.
I suspect what’s actually going on is that the PS4 cannot support the new 4K Ultra Blu-Ray standard, but the whole of Sony has some goals around 4K adoption, if only to sell some tellies. So (assuming the rumours aren’t pure horseshit) I think the primary goal is to release a new PS4 that can do the 4K Blu-Rays, because Sony still remembers fondly how many PS2s it sold because they were really good DVD players. This PS4K may or may not have an upgraded spec for games, but I think that’s secondary.
There is a bigger picture piece, though Consoles and gaming PCs are getting closer together, and the line between (say) a PS4 and a Steam Box has never been more blurry. Absolutely fixed console specs is one of the next paradigms most likely to fall, and it wouldn't mean chaos. Developers for iOS muddle through with two dozen SKUs to chase; games devs wouldn’t explode if there were two concurrent PlayStation specs to target.