It's not about how pretty the game looks, it's about building a game that's free from the limitations of the older system in terms of its core design.
Miles Morales is great, but it's really just a base PS4 game with support for 4K, ray-tracing, 60 FPS, and reduced loading times on the PS5.
People want to see those AAA games built from the ground up for the PS5. Games that are built to take advantage of the new hardware such that they wouldn't even be possible on the previous generation.
So then how is it fair to people who have a reduced income or are out of work entirely due to the GLOBAL PANDEMIC and use games as a form of entertainment and say "Oh, so you want to play new games? That'll be $400 at least. $500 if you want the disc."
I get that we are enthusiast gamers, we want cutting edge everything. But we are in the strict minority. And to tell people they can't play the new Spider-Man, Horizon, or God of War just because they aren't lucky enough to be able to afford the new console at this point in history just doesn't seem fair to me. Generally ERA seems pretty progressive, anti-capitalism, and wanting equality for all - why should this not be the same with who gets to play new video games?