That engineer leaving MS is nothing worrying IMHO, it's just that he's not a cult personality like Cerny (although AFAIK Cerny is more of a PR spokesperson, since he's not the one who designed the PS4 APU, it was actually an obscure Japanese guy).
I guess MS didn't like the market's reaction to XB1 SAD edition, so they had to axe Lockhart.
Still though, Lockhart with a BD-ROM drive ($20) at $299 would have been a worthy proposition for VFM consumers.
Anaconda $499 vs PS5 $499 is a no brainer for most people, Sony will most likely have the upper hand due to brand awareness (minus the US maybe).
The GPU baseline is not that important, what's important is making games relatively quickly. This gen we have to wait 7-8 years for games like RDR2 and TLOU2 to come out. Are you happy with that?
Don't be surprised if next-gen games take even longer to make... y'all have been warned.