Is there any good reason for why the PS5 can’t play ps1-ps5 titles?
The architecture between a Ps1 and a Ps5 are so vastly different from each other that you'd either have to develop an emulator or just shove the actual ps1 hardware into a ps5 to get it to work.
Technically, they (Sony) have done that with the original Playstation. POPS (PlayStation One Portable Station) is their software emulator. When the PSP was hacked people were able to inject PSX titles to it, but it wasn't 100% perfect. Some titles couldn't load due to multi-disc (which Sony implemented later for FF7, 8, 9 and MGS), or just couldn't load at all due to not being programmed for the particular emulator calls.
PS2 and 3 could probably do that, but it's a MONUMENTAL task to do.
The architecture between a Ps1 and a Ps5 are so vastly different from each other that you'd either have to develop an emulator or just shove the actual ps1 hardware into a ps5 to get it to work.
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Those are brought by a recompilation process almost like porting rather than full system emulator. This is why not the entire library is available.
Sony could do this too but they do not.
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Technically, they (Sony) have done that with the original Playstation. POPS (PlayStation One Portable Station) is their software emulator. When the PSP was hacked people were able to inject PSX titles to it, but it wasn't 100% perfect. Some titles couldn't load due to multi-disc (which Sony implemented later for FF7, 8, 9 and MGS), or just couldn't load at all due to not being programmed for the particular emulator calls.
PS2 and 3 could probably do that, but it's a MONUMENTAL task to do.