It actually does something!
Today Sony released firmware update 1.75 for the PS4, and it doesn't just include "nebulous fixes and improvements for the user experience." You'll get 3D Blu-Ray playback right off the bat, as well as general sound quality improvements for 1.5x playback. I have no idea why you'd fast-forward-watch a film like that unless you're really pressed for time.
Additionally, your PS4 can now automatically download "Featured Content" while the system is asleep. Not a bad update.