If you can’t log in to the PlayStation Network right this moment on your PS4, it’s not due to the new PS4 update that rolled out yesterday, but rather, there’s a new term of service (TOS) that gamers need to agree to before being able to sign in.
This happened to me personally while playing the Star Wars Battlefont II beta. I got an “offline” notice pop up, which I assumed meant PSN was down. Checking again, and trying to sign in, I was prompted with the image you can see above. After manually signing in, it fixed the PSN sign in failed error from appearing again.
It’s currently not known whether this new TOS is applied to the PS Vita and PS3, but if you get prompted that you’re offline on those platforms, best to manually sign in again to see if the new TOS shows up.
Spread the word so other people won’t get confused and assume PSN is down again or something.