So here are my impressions as a "longtime" Playstation owner and PC player:
- The hardware is MUCH better than PS5. Smaller footprint, looks sleek, more powerful (at least on paper), bigger SSD (approx. 800GB usable vs. 667GB or so), SILENT under load, much quiter than my PS5 (mine has pretty loud coilwhine, e.g. COD Vanguard with 120Hz)
- Startup from standby is almost INSTANT!!! (2-3seconds vs 20seconds or so)
- the UI feels much more joyful to use and is pretty customizable (custom wallpapers, accent colors, pinning apps and games , dark mode, night mode, etc.)
- 120Hz +4k output on all games (my LG C1 says so at least, which should reduce latency and input lag even on 30fps games!?)
- Dolby vision in all HDR10 games (I think!?)
- Quick Resume (I dont think PS5 will ever get this feature, maybe PS6)
- better BC and FPS boost on many old titles
- Dev Mode for emulation (didnt try that one for now)
- Many more features (VRR, controller button mapping, linking player profiles to controllers e.t.c.)
I also must mention some things I DONT LIKE:
- The controller feels "dead" and oldschool. No speakers/mic, not rechargable. The vibration is almost never used (in games I played at least) and I miss the adaptive triggers (Returnal used them heavily)
- MS Games dont look and feel "next gen" (except flight sim maybe) compared to PS Studio Games like Demons souls, Spiderman MM, Ratchet & Clank, Returnal etc.
- MS Games are very big (mostly around 100GB for Flight Sim, Halo Infinite, Forza, Gears etc.)
- Cant upgrade SSD with regular m2 SSDs (bought a 2TB Samsung 980 Pro for my PS5 on black friday for 250€)
I will probably use the XSX as a game pass machine and will still buy 3rd party games + 1st party titles for PS5 since I prefer the controller and I only know one other person with an Xbox LOL.
Am I missing something? Please correct me If I told BS.
PS. Oh and did I mention Game pass? I bought 3yrs for 80€ or so (thx to mydealz.de), which is like the price of one PS5 game over here.
I think that you(like most of us) are mixing your personal preferences/feelings and technical details/differences. Anybody can list tens of things but they are not really true or false 100%.
"The hardware is MUCH better than PS5. Smaller footprint, looks sleek, more powerful (at least on paper), bigger SSD (approx. 800GB usable vs. 667GB or so), SILENT under load, much quiter than my PS5 (mine has pretty loud coilwhine, e.g. COD Vanguard with 120Hz)"
Objectively not true, neither are really that MUCH of better, they are just different. PS5 is the bit more engineered (audio engine, SSD, I/O, other custom stuff + dualsense), but weaker theoretical performance. Xbox is the one with better theoretical power, but being more traditional system. PS5 games tend to be bit smaller (not all of course) so that renders the SSD size diffrence away. No console with moving parts is SILENT, that is just nonsense. On room with really low background noise almost any system can be heard from 2-5m away. But is xbox less noisy than PS5, probably. And it is subjective, some hear/notice what others wont.
I HATE noisy consoles, hated all ps4+pro versions I had, but PS5 is really quiet, it is not silent but perfectly tolerable even with the small coil whine, but yes xbox probably wins the crown of less noisy, but not literally silent system.
I have friends whom have claimed their console is silent, yet it have been audible from across the house and so on. By this I meant that people use term SILENT often on cases when it is 100% false.
Silent basically would mean an item which doesnt emit any noise at all, like a rock.
Visual looks are matter of opinion, IMO PS5 looks really nice, I have it vertical on floor and honestly whom doesnt have room for any console, unless they are really specific how they design their interior? Series X looks good to me too, but visuals are just matter of taste and neither really needs too much of space unless user is nuts and tries to fit them somewhere they dont belong, like narrow tv-cabinets etc. I mean, we live in the era where we have TVs that are 40-100" yet almost nobody claims they take too much of space
"- Startup from standby is almost INSTANT!!! (2-3seconds vs 20seconds or so)"
Is this rest mode vs cold boot? because PS5 also start up in few seconds from sleep mode. Standby doesnt mean that you turn it completely off.
" the UI feels much more joyful to use and is pretty customizable (custom wallpapers, accent colors, pinning apps and games , dark mode, night mode, etc.)"
This is just personal preference, Playstation OS goes for simplicity and functionality, xbox OS just seems more complex and full of stuff compared to it, but if you like customize things then it is nice.
PS4 OS were simpler than PS5 one. But consoles are for games, not for OS so this is kind of irrelevant as long as we can manage to start games.
"
- 120Hz +4k output on all games (my LG C1 says so at least, which should reduce latency and input lag even on 30fps games!?)
- Dolby vision in all HDR10 games (I think!?)
- Quick Resume (I dont think PS5 will ever get this feature, maybe PS6)
- better BC and FPS boost on many old titles
- Dev Mode for emulation (didnt try that one for now)
- Many more features (VRR, controller button mapping, linking player profiles to controllers e.t.c.)"
Not sure if xbox really outputs/scales everything to 120Hz/4k, but internal resolution+fps definetly isnt that for majority for games. Input lag isnt even a thing anyways, maybe on some Street fighter kind of games but on non-competitive genres I have never heard that input lag is really a thing, unless there is some bug on the specific game.
Dolby vision/HDR, cant say much about these, to me HDR is just not much different at all, I have Sony A8H oled + friends have high end LCDs with good HDR, yet I just dont think it is really worth it. But could be true! To me it just looks "brighter" and with oled dark scenes are already epic, personally I hate any light bleeding so OLED is the choise.
Quick resume = yes, true but this is also really personal and specific thing, I have personally never had the urge to switch between 5 games in 5 minutes, and chancing discs takes some time anyway. But you really cant claim PS5 is somehow slow to start up games. And having one game on quick resume is already good than enough for people whom play 1 game at time. But yes, having more games on quick resume is of course technically better, but not essential for many.
Better BC is true, if you count 360 games. PS5 supports almost all ps4 games and that is probably enough for most, but it would be indeed nice to have universal fps/resolution boost for ps4 games so xbox wins, but PS5 is good enough too.
dev mode = true
VRR issue is way overblown, nice to have but it is not important at all. When games maintain stable 30/60 fps most of the time. I considered to wait for new Sony oleds when I bought mine because of VRR, but I got into conclusion that it is not worth hundreds of euros + months of waiting. And I have not seen any real issues of tearing/fps drops on any games on ps5 yet. Something minor but if I would care about FPS I would get 144Hz PC stuff.
TL;DR
Both systems are great gaming consoles, neither are really that much of better than another, majority of things are personal preferences and in the end even the fastest or most engineered system is useless, if devs dont utilize those. Like making games like desert bus / black tiger -> even 100 Tflops wont matter because they are just low quality games.
And my long answer is basically an example that we can talk and talk and give our opinions that are affected by personal preferences,
but in the end BOTH systems are really close to each other and BOTH systems are in my opinion closest to "specific manufacturers perfection" than any gen before. 
