Originally posted by worrorfight
Initialize PS4 - Important: All data and settings will be lost by performing this step.
Deletes all user data and restores the PS4 as if it just came out of the box. This option is the same as [Initialize PS4] in the (Settings) menu. System software (firmware) is not deleted.
Initialize PS4 (Re-install System Software) - IMPORTANT: Deletes all information on the HDD, including the System Software. A message that states a USB storage device containing the System Software must be connected, is displayed. Then you can confirm the selection.
Can someone ELI5 please because this sounds to me like you could do a soft downgrade on the console? Of course that would be provided that you have the target firmware on hand..?
Surely it can't be that simple?
Edit*
I'm leaving the original post on here so anyone else not well educated on this comes along so they can see it.
To answer my own question from earlier, in short, no. Yes, it does remove the firmware but does not impact the flash to the nor chip of the console. Basically this means that you have to reinstall the firmware of the same or higher level. Not a clean sweep or else if you even could you would have to restructure the way the console receives the updates. Which would apparently be next to impossible and not worth the trouble.