I can confirm that this is actually unplayable still. I couldn't even tell you how many times I've died from lag, rubber banding or just straight blue screening. I feel bad for GGG because I'd like to spend my money on their game to help them fix these issues but I won't (again) until they fix these issues.
I'm unable to progress past T8-T10 max because any sort of mob density causes the frame rate to drop so drastically that it feels like I'm playing a photo and not a video game.
This is before we mention the fundamentally flawed trading and player interaction systems.
If you like games with death penalties and terrible servers then PoE PS4 is the game for you.