I have been looking into these consoles for a while out of curiosity, i do not actually plan on buying any, i prefer PC.
The xbox series X does have 17% more TFLOPs than the PS5 but the actual difference in real-world performance is a lot smaller than that
So the PS5 have slighly faster loading times while the XSX runs slighly better in games (overall, PS5 sometimes run better) but it's nothing like PS4 vs xbox one. Microsoft fucked up somewhat with their hardware design which is why they have worse performance/TFLOP.
The system with the best performance/$ is actually the PS5 all digital edition, the system with the worst performance/$ is the xbox series S. I would not recommend buying the series S when PS5 is just 100$ more expensive, if 100$ more would break you then you shouldn't spend 300$ on a console.
playstation 5 does seem to have a better system for upgrading the storage, you just need to buy a suitable NVME drive, the only issue with playstation 5 now is that we do not yet know which options that will actually work with the PS5, it has to be fast enough.
microsoft has stopped making titles exclusive to their consoles, instead they now release everything on PC which is good for me personally and anyone else not buying their consoles.
So now you only really need 2 systems to play more or less everything, you will not miss much if you both have PS5 and a decent PC. It still sucks having to buy hardware for 500$ just to play some titles you want, personally i rather spend that on buying better PC hardware.
On PC you can emulate most systems really well, there are still issues emulating ps3 games but it's getting better every year.
The PS5 has a much better controller. The issue is that most games will probably not utilize it properly, we saw that with PS3 and PS4 where the controller could do gyro aiming just fine technically but game developers didn't bother to actually implement it in games, if you instead use the same controller on PC you can utilize it far better.
You need to buy a third party adapter (very expensive) to use mouse and keyboard in most games when playing on console and then it will not work as well as native mouse+keyboard support and you can be banned from doing so online since it's viewed as cheating.
For most people buying PS5 or PC (skipping the xbox completely) will be the best option
The only problem is actually getting the console/hardware you want, there are a lot of shortages now.
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