It's a pointless waste of resources by Sony, especially when AAA studios are currently not putting in effort in making quality performing games. PS4 made sense as it was already weak on release and couldn't do 4k. PS5, by comparison, was much more powerful out the gate.
It's been 4 years, but in a way, it feels early because game development takes forever nowadays and PS5 has had only a handful of exclusives, most of which are cross gen. They still have yet to full make use of the system and break it in yet. Then also, people are JUST now being able to get a PS5, so yeah, it feels premature.
PS5 is only struggling to play Star Wars because Respawn, just like all these other studios, are rushing games out and poorly optimizing them. Even 4080/90 equipped PCs are struggling.