Just an establishment over how Neo will operate in conjuction with the existing PS4, similar to whats been established about Scorpio, PS4 will serve as the more affordable standard whilst Neo will serve as the higher-end edition. Support will be mandatory for the PS4 and Neo, developers have to utilize Neo's power but are fully obligated to support the PS4.
The interviewer asks if the generation is ending quickly in favour of hardware progressing in smaller and more frequent steps
This should clear up any worries as 'PS4 is just PS4' means Neo will not force you to abandon your existing PS4 library and accessories, they will be all compatible with the console succeeding them.
Well no, PS4 is PS4, you know the new high end PS4 is still PS4, so you know the lifecycle is not going to be shorter
From Andrew Houses interview there will be no Neo exclusives, as Neo is intended to be a complementary device to the PS4, a high end option that enables greater performance and greater capabilities without cutting support for PS4 users and their library.
EDIT: It's still unknown whether this rules out a "brand new generation" with a PS5 because its unknown what Sony's policies are beyond Neo and whether they will follow MS' plan, so it should be speculated as to what constitutes as a new generation IMO as thats an entirely different ball game, for now though Neo is intended to be a premium iteration of the PS4 without cutting off the PS4.