Take XsX for example, which has separate CPU and GPU power. In PS5, the SoC has a unified power limit. Both of these SoCs have roughly the same power limit overall (the PS5 has slightly more). You write that the GPU eats away the power of the CPU when it is not heavily used and yes, it does when it's needed. But the GPU has its own piece of power in order to keep the frequency at 2.23GHz at cap anyway, just like CPU. Is not so? Of course yes. The SoC's power is designed to supply both the CPU and GPU at the same time, without the need for any restrictions. The unused power for CPU is needed to further increase productivity of the GPU. This is what Smart Shift firmware does. You understand it somehow in your own way. In your opinion, the PS5 SoC power limit is designed to power either the CPU or the GPU at total and not both. This is what is called nonsense. I'm sorry, but you're wrong.
If you mean the max frequency with powering the CPU or GPU at total, than no, it's not my opinion or statement that the PS5 has to choose which unit it has to run at maximum speed.
And I drew a simple example:
For most cases it can very well be that both CPU and GPU run always at 3.5GHz and 2.23GHz, however as stated by Mark Cerny there can be cases where the units are forced to downlock.
Now if the CPU is not fully loaded but the GPU is exceeding its own power budget, the GPU may still clock at constant 2.23GHz because it can borrow the unused CPU power.
That's why the total GPU power budget depends on the load put on the CPU, because it is GPU Power + unused CPU Power.
And this was my argument, that if we have games which heavily stress both the CPU and GPU, that we may see the GPU downclocking.
I was not stating that the units can't run at max frequency at the same time, nor that the PS5 CPU or GPU will have to constantly downclock for most cases or that they will have to downclock heavily.