From what I'm reading, it sounds like PS5 is truly "next-gen" in terms of what developers are going to be able to achieve, and will change gaming completely.
Honestly I'm glad that Xbox is still around. If they weren't, Sony would probably get complacent and get cocky (again). It's clear that the Series X is no slouch, but what I wanna know is, what games are coming for SX? Sony can dominate because the First-Party titles are amazing and are generally the most talked about games of the year. Microsoft needs their studios to create games on that level, and I'm sure they have the talent to, but Sony also doesn't plan on slowing down anytime soon either.
And with companies like Square Enix clearly favouring PS more, that'll be a factor too. Xbox JUST got all of the Kingdom Hearts games and Nier Automata didn't come to Xbox until a good while after the PS4 and PC release. Granted, FFXVI will be a multi-platform title, but most players are probably going to be on PS5.