I won't make any definitive statements but I think its marginally louder (but still quiet) than the other two types. Still no coil wine buzzing which is a lot worse than fan noise for me.
Glad to hear you can hear your replacement system less.
Even though my console is still quiet in practical use - effectively silent in UHD Blu-ray use for home cinema - as I got closer to finishing all the stuff in Spider-man remastered for platinium the sound from the fan got a bit louder, - noticed when using performance mode for some of the harder challenges - and stayed that loud in all PS5 games - Astro, CoD, Morales/Remastered.
As a first test I repositioned my PS5 - put it on the bottom shelf on solid wood, rather its previous glass shelf at the top, and got some rug gripper tape(2-sided) to secure the PS5 base in side mount position, and removed the 2nd glass shelf above to quadruple the air around the unit. but that had no effect. The noise still wasn't half as loud as a original PS2 - seem to remember tiny fan spinning at high speed - so easily liveable, but was still intrigued by what had changed.
Eventually I powered down, popped the lid off and got a security screw driver to check for a label. but no loose label, but did see a tiny quick code sticker in secured IIRC. From what I can see, the fan is a good quality item, but the hole it spins in is a few mm too small (across the diameter) for the accuracy of the fan shaft when spinning at higher speeds - because the fan doesn't have a shaft like a pole, but is secured more like a ceiling fan - at just the top.
After I carefully re-seated the fan and re-secured the screws the operating sound seemed to have dropped back to its day 1 level - probably because the fan re-seat has it sitting slightly more central again, and I'm certainly considering o-rings if the noise level changes again.
When I get finished with my current set of unfinished games, I'll take my own earlier advice and format my system and reinstall the firmware from USB download just for curiosity sake.