Thanks for correcting yourself but, the Red Ray isn't Sony and if you look up the specs on the website it states it's a download and playback just like Sony's 4k player. I haven't seen anything on PS4 streaming 4k but I do know it supports 4k video output but not games. I would guess that if Sony can't stream to their 4k player they can't stream it to the PS4 either.
As for the processor NP-1 has a Tegra 4, more than enough power to handle H.265.
When if comes to bandwidth NTEK can stream 4k losses right now with 10 Mbps, 6 causes some loss. Imagine what they'll be able to do with H.265.