Ok so essentially it's like 360's license transfer, but being able to be done infinite times and including the plus subscription
Basically a console license tied to a tag that can be moved... Still prevents game sharing in the ways I listed earlier this page or the last one though. Only one console will allow anyone on the console to play it, and the other share will have to be played on the account itself preventing them from getting trophies on their main (unless they move that switch their "home" console to their own console). This is essentially how 360 does it, and fits into what they said about licensing with ps4 so far.
One ps4 can obviously have multiple accts registered as it being their "home" system. There's no question about that, although the number of accts you can have is still unknown (i'm going to estimate it's going to have to be at least 10). However I very highly doubt that one account can have multiple "home" systems, as that would be an extremely easy way to just give your friends free games. They're not going to overlook something like that that can end up losing them tons of money