That's right, when the PS4 gets released, it will not support video capture devices hooked into it via HDMI as we assumed that it would. Instead, you'll have to wait for a later patch, as confirmed by Sony boss Shuhei Yoshida on Twitter.
He was asked by Sagman12: "@yosp Will HDMI capture work on day 1 or is it a patch you guys will release after the ps4 launch?" to which he replied with: "@sagman12PC the latter".
His answer was plain as day, but he didn't offer any time-scale for when exactly this patch would be available.
This doesn't affect how the PS4's Share function enables players to upload their videos to Facebook, Twitter, PSN and Twitch, but there's been no mention of Youtube - read more on that here.