Frankly that's just thinking with only PS5 exclusives in mind.
A lot of people, probably the vast majority, don't get an Xbox or PlayStation for the exclusives. They just get one because they don't own or want a gaming PC and look for the easier more accessible solution.
So to them the catalogue is just fine because they don't get the console just for the exclusives.
Not sure what the point of downvoting me is, but I'd rather be interested to hear people's counter-arguments instead. Because a lot of people seem to just assume that many console-owners have both a console and gaming PC.
Myself, I count the catalog of PS+ as an “exclusive feature”, plus it’s nice to play some of the PS4 games that struggled on a better machine. I loaded my God of War save and went from 30 to 60fps, which was great (sad that it was one of few games to offer PS5 enhancements in the PS4 version)
I dunno I haven't really been excited for any of the games released over the last couple years. It seems like nothing but legacy games like COD/Battlefield/Destiny and a few gems like Elden Ring. Most of these big studios seem to be laying off employees or shutting down instead of releasing new games. Part of this is just me being burnt out on gaming, but with so many studios struggling, it seems like it's more than just me feeling like this.
Thing is that isn't true for everyone, I am done with games like CoD and FIFA, but a huge majority of players is not. Hence why these games keep selling just fine.
I'm not saying that exclusives didn't play a part entirely, but even when the PS5 was hard to get by it was still cheaper than the Xbox that were in stock (where I live).
Despite the low amount of exclusive games it would still be an easy pick to get a PS5 instead, if people decided to upgrade at some point. And since a lot of cross-platform/console games were still coming out on the old consoles for a while there was little reason to get an Xbox instead of a PS if they wanted a new console right then right there.