The evidence for that is the change in the tokenizer. The only way to implement that is to re-train the entire base model from scratch. This implies that GPT 4o is not a fine-tuning of GPT 4. It's a new model, with a new tokenizer, new input and output token types, etc...
They could have called it GPT-5 and everyone would have believed them.
The expectations for gpt5 are sky high. I think we will see a similar jump as 3.5 -> 4.
I assume GPT-5 has to be a heavier, more expensive and slower model initially.
GPT-4o is like an optimisation of GPT-4.
1) It's natively multi-modal in a way I don't think gpt4 was.
2) It's at least twice as efficient in terms of compute. Maybe 3 times more efficient, considering the increase in performance.
Combined, those point towards some major breakthroughs having gone into the model. If the quality of the output hasn't gone up THAT much, it's probably because the technological innovations mostly were leveraged (for this version) to reduce costs rather than capabilities.
My guess is that we should expect them to leverage the 2x-3x boost in efficiency in a model that is at least as large as GTP4 relatively soon, probably this year unless OpenAI has safety concerns or something, and keeps it internal-only.
But everyone is expecting them to release gpt5 later this year, and it is a bit scary to think what will it be able to do.