When looking at the generational shifts between console gens. The PlayStation 5 didn't fix any problems the industry was having. Especially when you compare the jump in quality between PS2/Xbox and PS3/360, where rendering individual fingers didn't bring the games performance to a halt. Or the PS3/360 to the PS4/Xbone, where the consoles were given a usable amount of RAM that the devs needed from 256/512 respectively to 8GB on both.
But other than a slight performance boost and the new GPU buzzword "Ray Tracing" slapped on these systems. They cost more than the older systems did, and don't offer any new experience which the previous gen systems do.
The system doesn't do anything new or special, but the controllers do. Adaptive Triggers are rad. Maybe not $80 controller rad. And especially not $500 console rad. But nobody else has that yet.
I avoided the PS4 for years until I was able to justify buying either it or the Xbone. When the Xbones only claim to fame (for me) was the Rare Replay collection and Sunset Overdrive, and the PS4 was Infamous Second Son and Uncharted 4 I waited. Eventually I was able to justify the PS4 with the addition Persona 5, Wipeout Omega Collection, Horizon Zero Dawn, Spiderman, and a way to play Ubisoft games without giving my PC Cancer Ubisoft Connect/UPlay.
But unlike the PS3 I don't like using it. It's more of a convenient means to play games cheaply since every game was about $10 by the time I bought into it. Even then I probably could justify to myself to upgrade to a PS5 by using my PS4 as collateral.