What is PT symmetry?

The recently proposed complexification of Hamiltonians which keeps the spectra real (and is usually called PT symmetry) is re-interpreted here as a certain natural linear-algebraic alternative to Hermiticity. The juxtaposition is mediated by the Feshbachian projection on a model space which reduces the difference just to a sign of a propagator in the effective Hamiltonian. The problem of norms and orthogonality is clarified and a few perturbation aspects are mentioned. A remarkable simplicity of the secular polynomial is conjectured. The mechanism of the PT symmetry breaking is clarified via a separable approximation scheme