I like the Series S but it's not really a genius move to basically keep the fundamentals of what's worked in the past, which is a lower price point for consumers. I think it was likely well designed to be efficient from a manufacturing perspective, but that would have been beneficial regardless of a chip shortage that they definitely couldn't have foreseen. If anything was genius, it was making it so small! It being cute was a non-negligible reason for why I bought one despite having a Series X.
When it was announced, I liked the idea but wasn't sure if it was a great value proposition compared to a PS5 DE at 399, but after buying that version of the PS5 and realizing how much more expensive it is to game over there, and how massive the machine is, I fully came around. I am not sure if they got the specs exactly right (the memory speed seems like it could be a bottleneck) but I'm keeping an open mind while we get through this cross-gen period.