The Playstation 4 is being marketed to consumers as a "Next Generation" gaming platform. However 8 player party chat will not cut it for Next Gen gaming.
The PC has everything up to 512 player party chat thanks to programs such as Teamspeak 3, Mumble, and Ventrillo. Also the primary competition, the xbox one, already supports up to 16 players. So, as you can see, having such a limitation compared to all of the competition is not a good thing for the Playstation brand or it's adopters.
Next Gen games will require larger online communities and the platform must be able to expand to meet those needs. It has already become a problem for many gamers and will continue to be a problem until it is resolved.
Another option would be the inclusion of 3rd party chat applications such as teamspeak 3. This would allow the gaming community to host and manage their own private communication channels.
Either way, something needs to happen.