Guys, the difference IS staggering.
Look, the PS5 can do about 10TF while the XSX is 12TF, locked.
12 - 10 = 2.
That's two whole extra TF to work with..! Look at what Sony could do with 1TF: Horizon: Zero Dawn. That means that XSX games will have two H:ZDs extra on every PS5 game..! That's loads! Who can say that's not a staggering difference.
Can you imagine what that would look like? Doing an XSX game on the PS5 would likely be like ports of arcade game to home systems, back in the early 90s.
To illustrate, here's the Amiga version of Street Fighter 2:
And the arcade version:
Now, these two look quite similar, but if you look closely you can see the arcade version has the edge. And that's not even in motion!
So, yes, the XSX is going to be way more powerful than the PS5.
As a bonus, here's what the C64 version of SF2 looked like. This is sort of what one could expect from a XSX game after being ported to a Lockhart (a 4TF machine):