Like the PS4 and PS4 Pro, it's going to be an AMD-based system. It will have a Ryzen CPU (most likely either Zen 2 or Zen 3) and a Navi GPU (surely RDNA; possibly of the successor to Navi). It will have an SSD, as had previously been announced. I'm curious as to whether it will be a decently large SoC or whether it will use the third generation Ryzen chiplet approach.
What I found most interesting is that Sony also confirmed that it will have hardware-accelerated ray-tracing. That's something not offered by the Navi GPUs currently out. If that's going to launch in a game console a year from now, then that surely means that AMD will offer hardware-based ray-tracing sooner rather than later. They could plausibly go with a Turing-like approach of only offering it in their relatively higher end GPUs and not in the lower end ones. Or depending on how much die space it takes, they might offer it all up and down their lineup rather than doing the substantial redesign work necessary to strip it out of the lower end parts.
Sony also confirmed that it will be called the PlayStation 5. Hooray for naming schemes that actually make sense, unlike what AMD, Nvidia, Intel, Microsoft, and others do.
The article didn't say whether it would offer backward compatibility to PS4 games. Given that the architectural changes of the sort that can break such compatibility will be relatively small, I'd expect that offering such backward compatibility wouldn't be that hard, and so they probably will.