So, basically, to the layman, the XSX looks more powerful on paper, but in reality both systems are extremely powerful and both have their strengths and weaknesses; however, we don't really know at this point how games are going to run head to head until we actually see games and the performance may very well be quite similar. Also, there are areas where developers are really excited about the PS5, like the SSD speeds, that make it something completely, entirely new, but Sony is completely bungling their messaging and all the advantages of the PS5 aren't being communicatied well. Meanwhile, MS is doing a great job on messaging and marketing.
Just my personal take is that people look at the PS5 SSD and incorrectly assume all it's doing is improving load times when, in reality, it's acting much more like extremely fast virtual RAM, i.e. imagine an entire open world or large sections of an open world being loaded in seconds. That should free up a huge amount of resources that can be used for many more things. I could be completely wrong, which is the problem. Sony needs to do what MS is doing by demonstrating why this is so amazing in simple ways using actual game footage and examples that gamers can understand.