While several enhancements to the PlayStation Plus service are on the horizon, Sony will most likely continue to fall short of providing a mechanism for PlayStation 5 users to directly access PlayStation 3 titles in their native format. 

Current availability is only available as streaming, and it is only available in certain areas where the firm operates the PlayStation Now service. According to developer Dimitris Giannakis, also known as Modern Vintage Gamer, the issue has arisen as a result of the Japanese company's reluctance to invest in native emulation of its previous platform. It is completely feasible to emulate the PlayStation 3 on PS5 hardware.

"PS3 emulation is absolutely possible on PS5 hardware. But Sony was never interested in investing money and time to make this happen,” he said on Twitter.

Lance McDonald - @manfightdragon
I can’t get over Sony announcing that they have a PS1 and PS2 emulator up and running on PS4 and PS5 hardware but they’re locking both behind a subscription fee and won’t let you play discs you already own. Also they still can’t get PS3 emulation on the PS5

According to Sony, the transition of the subscription service would enable its users to download and play certain PlayStation 1, PlayStation 2, and PSP games when not connected to the internet. This demonstrates that the business has been successful in developing emulators for each of its previous systems, despite the fact that the PS3 was left out of the process. It is well known that the console has an architecture that is deemed sophisticated; yet, as demonstrated by the community, it can be mimicked by current technology. The choice by the Japanese corporation runs counter to the policy chosen by Microsoft, which has invested in mechanisms to ensure that its current consoles have access to the catalogs of platforms like as the Xbox 360 and the original Xbox, as well as other platforms. PS3's new subscription service, which will go live in June of this year, will provide the same features as the existing PlayStation Plus membership plan at its most basic level.