It makes sense if you mostly stick to older games. In fact, you don't even need a ps4 for that, you could be fine with just the ps3. My point about the financial limitations is that there are countries in which there are hundreds of thousands, if not millions of kids that want the ps5, but simply cannot buy it, so they're stuck with what they have, be it the ps4, the ps3 or even the ps2. If they could get the ps5, forget all previous generations, they'd be on it playing new games (assuming they could even afford them. then again, there's plenty of f2p titles for the ps5).
