I really
don't agree that "all of the above" is a cop-out. All of the above is a perfectly reasonable answer, because all of them are true. I also don't agree with
@Maxperson that there has to be NO work involved for it to qualify, but I DO agree that the work involved ought to be minimal. OR easily understood, such as "You can make a 2014 PC OR a 2024 PC and play together but you can't mix-and-match". OR everything has errata that gets whatever needs changing in-line, but is easily understood.
As long as those things are true, it might not be
perfectly backwards compatible, but I don't believe in perfection, so it would be
close enough to backwards compatible (I agree that backwards adaptable is a more acceptable term, but words are often less than perfect). Close enough for me, at any rate.
As long as I can keep selling all the 5e books that I have in stock at my game store, I'm happy! (I expect it to be worth paring down the old DMG, MM, and to a lesser extent PHB, of course).