I don't think I'll ever buy a PS5, it's waaaay too expensive in my region. I think my console gaming ends with the PS4.
But I'm ok with this, I have so many cool games to play on my backlog, and I usually don't mind playing older games. I'll just keep saving up to hopefully upgrade my PC halfway through nextgen, maybe? We'll see.
I've finished Vagrant Story for the first time this year, and as we approach december, it's still easily the best new game I've played in 2020. My GOTY is Doom Eternal because Vagrant Story isn't a 2020 title, but it became one of my favorite games of all time. Easily top 10 material. I'm in no rush to play early gen games that will likely be quickly forgotten for so much money when I have so many potential masterpieces I'm yet to play.
FOMO is something you just learn to get over if you can't afford the latest stuff, because there's not much you can do about it.
Also can't currently afford a 4K HDR OLED or whatever, but I'm perfectly satisfied with my 1080p Plasma. I'm more likely to get a high refresh rate monitor, even though I do most of my gaming on the TV, than a new TV before my current one stops working.
A lot of the conversations in the forum do seem to assume everyone who posts here is rich, but I find that more funny than annoying.