Perhaps, this is where Sony is doing it right again while still preparing the bullshit Playstation Now service which is seriously as costly as watching rented movies and TV shows from Netflix or perhaps using Windows Azure for awesome cloud virtualization. Microsoft already had the Xbox 360 backwards compatibility for Xbox One starting with the New Xbox One Experience powered by Windows 10 and there may be some rumors indicating that the Xbox 360 backwards compatibility is done using software emulation via virtual machine. This might be due to the fact that cloud streaming like Playstation Now does was going to be problematic for Microsoft that the legacy way of backwards compatibility was being used again. Maybe, the Xbox One uses the Hyper-V to make use of Xbox 360 VM for Xbox 360 games but where, in the game OS part? It may even pose more theories about how hypervisor works for Xbox One itself as the host OS in which it is divided into two parts, Windows OS and game OS. It's kind of like the Hyper-V OS is based on Hyper-V Server 8 that emulates the game OS and the modified Windows OS for that console.
For the Playstation 2 backwards compatibility for Playstation 4, the emulation program may seem to be the same as the one for Playstation 3 or maybe a different one which is Playstation 3 emulator running Playstation 2 emulator on the PS4. On the Playstation Vita, if you're playing Playstation 1 games, chances are, it makes use of the Playstation Portable emulator which runs Playstation 1 emulator for that inside the console. Some of the games may have less slowdowns, the others may have slowdowns in some stages due to inaccurate backwards compatibilty. This news of Playstation 2 emulation on Playstation 4 is due to the arrival of the Star Wars bundled Playstation 4 system in which there will be some Star Wars game that were originally on the Playstation 2 coming in for the Playstation 4 via emulation. Indeed, the emulation of previous Playstation consoles for Playstation 4 is on the way.
