My PS4 is acting up

I've had my PS4 since launch, never had any issues - until now.

First thing that happened was I got an error code yesterday, saying something like "Database is ruined". Only option was to turn it off. I restart in safe mode, and press "Rebuild Database". When it reaches 100% another error code shows "Cannot turn on PS4" with the only option being to turn it off again.

Alright, well I guess I can't rebuild my database? I try initializing the PS4, deleting everything on it, with success. Now my PS4 is completely wiped. However, it's unbearably slow in the home screens, and freezes when I tried starting Little Big Planet 3. Once more I get the "Database is ruined" error code. Once more rebuilding database won't work, even though my PS4 is completely wiped. I initialize once more, wipe everything, and that's where I am now.

It's still slow, and I'm certain I will get the database error again. How can I fix this? Is my PS4 permanently fucked? How can I rebuild my database without getting the "Can't turn on PS4" error? What is wrong and is it possible to fix it?

TLDR; My PS4s database is ruined, can't rebuild and initializing won't help. What can I do?