It's a wonky space age bit of hardware, but it could very well be the actual kit, and could require that level of ventilation due to the limits that the machine is allegedly going to push (plus, my current PS4 Pro already sounds like a jet engine). Rumors have been flying (especially through Codemasters Matthew Stott, who deleted tweets regarding the hardware) about the kit, but we likely won't know for sure due to NDAs or the PS5 reveal event.
Either way, we can have some fun with it right now. Taking things a step further, Let's Go Digital also opted to 3D render the thing, complete with the exaggerated venting system and button/disc placement. Get a look at it in the gallery below! I think I can see a tree in the reflection.
I mean, this design is likely not final, and looks a little silly, but I was never one to really judge the aesthetics of hardware too heavily. The thing is mostly going to be sitting inside of my entertainment stand's cabinets, and so long as it doesn't explode, red/yellow ring, or sound like it's going to explode, I'm good.
PS5 Devkit [Let's Go Digital]