Owner of PS1, PS2, PS3SS, PS4 slim, and now Xbox console for the first time. Why? I got tired of Sony's incompatibility from generation to generation, both in hardware/peripherals and software, and its overall mentality.
The console was purchased for a 1080P/60p TV and monitor, and after having both the Xbox and PS5 in my hands for about a week, from a friend who bought both.
I tried my entire game library from the PS4 (those that didn't require payment for an upgrade) without noticing any significant difference, except for some smoother performance. At the same time, I did the same on the Xbox, for the titles available at the time on Game Pass, and noticed a visual difference in graphics, in addition to the smoothness. For example, Dirt Rally 2. I don't know how they achieve it, but downsampling on the Xbox is top-notch!
Before I mention the pros and cons, the reason I went with the Xbox and not the S was because of the drive, so that I wouldn't become a hostage to monopolistic mentality over time and so that I could use it for playing music CDs or movies. However, the S is recommended as a worthy and more affordable solution for parents who want to buy it for younger children. It is well-covered by Game Pass.
Advantages:
a) 150-200 cheaper and more available.
b) Half the price of the annual subscription compared to the competition, through legal means (Live Gold 60 euros + 1 euro per month for an upgrade to Ultimate).
c) There is a standard version of the console available, unlike the PS5, which is a lottery as to which version you will get if you don't check the serial number, with implications for the cooling system you will get. In comparison, the Xbox has better thermal behavior than all models of the PS5 to date and is completely silent.
d) Hardware and software backward compatibility without extra cost. The ridiculous thing about this is that I have all these peripherals from the PlayStation (controllers, joysticks, steering wheels, K&M adapters, etc.) throughout the years, while there was no chance they would be compatible with the PS5, but it is possible with the Xbox! (half of them straight out of the box and the rest with a USB/bluetooth adapter, which is available on Skroutz for about 15 euros)
e) The icing on the cake and even more laughter or tears (depending on how you see it) is that at this moment, I am playing PS2 games (among many others) on the Xbox through a well-known emulator, legally and upgraded to 4K!! (internal resolution). There is no legal way to emulate on the PS5. It doesn't even recognize the discs, and the only way to play them is either to repurchase them or stream them through a premium subscription, for those that are available... And for upscaling, forget it!!
Disadvantages:
a) The monopolistic logic regarding storage expansion, where there is only one option and, of course, at a high cost, if someone wants to run new generation games from there. For older games, an external hard drive serves the purpose.
b) There is no audio output (wired).
c) While the controller is of good quality and generally feels comfortable in the hand, the logic of the asymmetrical arrangement of the thumbsticks does not suit me.
d) There is no equivalent offer or variety of physical discs for games in Greek stores, like there is for PlayStation, whatever that implies for prices, without necessarily meaning that I have encountered any major issue regarding this or that there is no competition.
5) The exclusive games for the platform are not yet at the level of SONY.
Personally, I highly recommend the console and I believe it is worth 101% of its money. I consider it an excellent purchase for all ages/player categories, except for those who intend to bear the difference in price and any other costs in order to have access to Sony's exclusive titles.