Dust 514 Belongs on the PS4, and it actually has its own niche market on the PS4 even after Planetside 2 launches.
Now let me explain why i think Dust would do well on the ps4, as of right now in the Free to play market we have, Warframe, DCUO, Blacklight, Warthunder, and launching early 2014 Planetside 2.
Warframe- is a futuristic COOP hack and slash/shooter that is very fast and vey rewarding its business model is around buying different suits and customization.
DCUO-Open city MMORPG, its business model leans more in the subscription model (for example locking certain features like trading or locking your bank account to a set amount until you subscribe)
Blacklight- The game play is closer to COD, or even faster than COD on some maps.The weapon customization is amazing, same with character. The business model is you can either rent with the ingame cash for a certain amount of time, or buy with real money permanently.
Warthunder- Is a WW2 Air combat game (there vision is Having Tanks and ships as well as planes all fighting in the same map), that has beautifully modeled aircraft's all with there own unique flight pattern. The business model revolves more around fast tracking your progress both with buying planes (95% of the planes are bought with ingame money, but you can fast track that process by buying modifications with real money, other wise you would just play with that plane and get RP that go towards unlocking that modification) and training your pilots and gunners.
Planetside 2- Is a massive open world FPS that has 3 factions fighting against each other to gain control of territories, with i think 3000+ players per map in combines air and ground. Its business model is more around customization and fast tracking.
Dust 514 with its smaller battles but combined roles (tanks and some what air ) it has more of a BF feel to it. And with that it will be the only FTP that has a BF feel on the next gen to date. I can see players that might like planetside 2 but get bored or frustrated with not finding the action fast enough (theres player like that in dust right now who can't read the battlefield so they can position themselves for kills, imagine them on a 50x50km map
) and thats where Dust comes in its that game where you can always find action. Not only that but with the passive SP people can leave and play Planetside 2 or other games and come back to a ton of SP they can reinvest, which means a higher chance of buying either boosters or arum gear. Not only that dust offers alot more when it comes to meta game.
So to summarize i believe Dust has a place in the FTP markets of the ps4, it can't compete with the scale of Planetside 2, but it can compete with its meta game, link to EVE, player owned planets, Player markets, ETC. With that being said i believe they should launch well after planetside2, and fill out those core features that set them apart from every other shooters (player market, stronger EVE link, PVE) IF they do this it will easily compete with Planetside2