All of this seems like barely an improvement though, something the bulk end users may not even really notice without being told. Like I love the faster load times, faster installs, better more refined visuals, etc, but I'm an enthusiast who likes to focus on the details.
It isn't to say there is nothing different, but how obvious that is, is shrinking rapidly. Show a person footage of Ocarina of Time and Shenmue, then Spider-Man 1 versus 2, they will absolutely think the first comparison is way, way more impressive.
We're talking hardware evolution of around 2 years in the case of the first scenario, versus what was 7 years from PS4 to PS5. It's almost scary to imagine what the leap to PS6 will look like from PS5 if they decide to release such a thing within say, 4 years from now.
There exist people that have often waited for a visual analysis to decide if they are happy or upset with a game on a tech level. I still remember the days where people would flip out if they found out the resolution was faked in some way even if they liked how it looked prior. We're simply entering a time that without a tech breakthrough, the evolution will seem very tepid, which SHOULD slow down hardware generations more until there is a reason to actually put something out.