I don't know if this has been pointed out already, but you guys do realize that most of your problems in multiplayer stem from the game creating multiple copies of itself. It's what causing the lag and players worlds being overridden. You can actually see mobs copying themselves in real time, which in turn is causing extreme lag. At the same time pay attention to the background and small details in the world. You'll see flickering and ever so slight differences in the environment from player to player. I could witness this as we had 3 PS4 playing Terraria in the same room. It stands to reason that if the game in making multiple copies of itself during gameplay, then that's why worlds are being overridden. Which happened to my wife, she lost her entire world and all the progress she made.
Now before I give my opinion/rant on this update, know that I love this game and have brought 8 copies of Terraria... 3 for PS4, 3 for PC and 1 each for 360 and PS3. Just wanted to put that out there so you don't dismiss this as a snarky trolling. With that said, this update is pure garbage. Sorry, there is no other way to say it. It's just as bad, if not worse that the 1.2 update. There is no way this update was properly tested, just no way. You can fire up this update on a PS4 and within 30mins find multiple bugs, performance problems and UI issues. The "can't see all bugs until it's out in the wild" saying doesn't hold water as the PS4 is a closed environment, unlike the PC. There is zero excuse for this bad of an update, especially considering the time it took, and the constant statements that it was taking so long to make sure it was as bug free as possible.
I saw this coming when you guys issued the "One Terraria" statement. I knew this was going to be a rushed PC port, which history has shown is a very bad idea. Just look at the dumpster fire that is MC Better Together edition. They tried the same thing, except those geniuses decided to make all versions like the pocket edition. Consoles are different for a reason, and you can't just shove a PC game on it and call it a day. Very disappointed that Terraria took the same route.
As much as we love Terraria, we'll be skipping any release of Other World or any other Terraria spin-off.