You read it correctly. PlayStation Network (PSN) is currently offline. That means that online services for PlayStation 4 and PlayStation 5 are not currently working. I’m afraid your game game will have to wait.
At the time of writing, the only official statement comes from the Japan Ask Twitter account, which has published the following declaration (translated into English through the built -in Twitter translation tool).
“At this time, the PlayStation ™ network (including the PlayStation ® store) may not be available. We sincerely apologize for the inconvenience caused to our customers. We are currently investigating the problem and working to restore the service, so it is patient.”
What that means is that Sony knows it, but there is no sign of when this will be solved. So we have few more options to endure there. It is also a difficult weekend to happen. The Monster Hunter Wilds Open Beta is currently in progress, which means that PlayStation players can only sit down and see that Xbox and PC players meet, having fun. Even if you are not testing wild, it is the weekend innit. This is the time when many people, especially those with jobs, have their game time. Here they expect the interruption to end soon.