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I think the PS5's launch year will be pretty strong from a software front. I can see Horizon: Zero Dawn 2 & GT7 launching by 2021. Guerrilla Games and Polyphony Digital will have 4+ years of development since their last releases. Both have already expanded their teams too.

While the PS4's launch year left a lot to be desired, the PS3's last year was absolutely incredible & games like Puppeter, GT6, God of War: Ascension, could have easily been PS4 releases. It seems Sony has flipped their strategy this gen, "crouching down," & having tons of software ready for the PS5's launch year.

Insomniac, Japan Studios, PD, San Diego, GG could all have something out by the end of 2021. Maybe Sony takes a bigger hit on hardware to ensure software & services continues to strive.