It's incredible to see already how some want to read this as "PS5 is RDNA 1!!!!" Or "Series X GPU is more modern!"
It has been confirmed already several times that :
1) Of course Sony will not support DX12 Ultimate functions on PS5. If PC RDNA2 uses DX12 Ultimate and support it, and Series X support it with the same functions, well, of course PS5 will not be compatibles with all the functions of PC RDNA2. If Sony has similar functions in PS5, they would have their own API to do it, and it might differ from what DX12 does. No surprise here. MS is not lying, they are telling the entire truth, but it doesn't mean what some think it means (albeit : it is fair to say that we don't know if the analog functions on PS5 will compare favorably or not, as there is no 1 to 1 comparison to what is done on PC and will have to see if it makes difference in practice still -which I'm sure it will)
2) RDNA 2 is a PC GPU gen name, it doesn't make a lot of sense to apply it directly to customized consoles GPU if they decided to modify it to fit their needs. Rosario Leonardy from Sony was trying to explain it back in July, their design is based on RDNA 2 (as confirmed not later than the tear-down video) but it will include things that differs, because they are doing things that will not apply to a PC environement. Having GPU cache scrubbers is not something that would apply in a PC etc. Just like PS4 was not GCN 1.0 exactly because it had some functions that would only come in later GCN revisions.
Will we see things that Series X will do better as a result? Maybe (anyway, it already has a more potent GPU overall). Does it mean that PS5 will not be able to do some things Series X can do? Frankly, we don't know, but we will see eventually.