Waiting might help us get closer to 'best machine' but for those of us just buying games then the here and now is the important part. If someone is looking to get a next gen console and is hearing talk about XSX being worse than PS5 then that would push them towards Sony. That's not good for MS. Shit can stick.
I'm just laughing at the "perhaps PS5 Digital is worth the $100 extra" ideas regarding Series S, some people apparently ignore Game Pass when it's convenient for their narrative. Microsoft has the value nailed down, what they need to do imho is be a bit more strict regarding quality and simply refuse to release games in such technical state.
I wouldn't say it's silly, it couldn't be any other way really ...people were waiting for the first DF face to face for months (and even years!) after what happened last time around, and the plot twist makes it even more interesting in a storyteling sense. It's not surprise this is exploding.
We can wait for exclusives as you say, but exclusives don't really get the same attention or tell the same story as face-offs, and I'm not sure MS can get an advantage there anyway, seeing the things Sony first party has been able to do these last years.
I understand why it's exploding, what I find silly is that people are acting like it means anything in the long run. I've mentioned exclusives because those are likely first to utilize new hardware properly, crossplatform titles will have to wait until they're not crossgen, with the exception of separate, nextgen-optimized versions, which take time (Cyberpunk 2077 for example will get one somewhere in 2021) - and even then it's never certain which features exactly will get utilized and which will be ignored.
I mean, just look at loading times - between Velocity architecture, sampler feedback, and all the tech in PS5, loading times should be almost nonexistent. It's painfully obvious Valhalla uses none of this new tech, just acting like it's on older gen storage, just faster. Some are talking that Microsoft's SDK hides the details from the devs to make it easy to develop for both Xbox and PC at the same time - perhaps, I'm not certain regarding Velocity vs DirectStorage, but the thing is, on PC devs can't assume such features are available. Perhaps it'll get easier for them as the time passes by, when nextgen open world game may simply require some sort of feature parity with Series X|S and PS5 on PC to run at all, right now it's too early and that only complicates things for the devs.
Consoles got plenty of new features, PCs are playing catch-up, Xbox got new SDK, multiplatform games are expected to run across wide variety of hardware, including PCs that would never run a game utilizing new consoles to their full potential, and people are expecting a smooth transition? Personally I think it's better for Microsoft that their heavy hitters will get released later on, let them focus on backward compatibility for now, and on improving their tools first and foremost. People seem to forget how back in the day devs needed time to learn how to use new console hardware properly, since it was a while when consoles got something truly new by PC standards. At this point credit definitely goes to Cerny, he did a great job and clearly saw it all coming. It won't matter in a couple of months though, when devs update their engines.
Also, the initial hype is either getting the console(s) ASAP, or getting them before Christmas. With even the latter sometimes becoming unlikely, some people gave up already and decided to wait a few months - especially considering there aren't that many games taking advantage of the new hardware yet. At that point nextgen patches for existing titles as well as any new games that will get released on nextgen consoles, will become current benchmarks.
This situation will be unclear for quite a while. Benchmarking-wise, we'll know more probably in a couple of months to a year, but we're unlikely to know what all those consoles can truly deliver until some point in 2022. As it is, PS5 definitely has the momentum, and considering Playstation's market share, it matters. Lets not forget Microsoft is still playing the long term game though, and Sony isn't really their competition. Different caliber entirely.