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For the PS5... Honestly I'm probably going to wait until it goes down to 300. Unless there's a lot of games that are next gen exclusive, Switch/PS4 should be fine for at least a few years. The only must-play exclusive for me is Spider-man 2 (obviously assuming its quality is consistent with the first and it's not coming to the PS4), and I'm not willing to spend more than 300 to play it.

I could go higher for the XSX, 400 and maybe even 500... I really have to look over the games available on gamepass, and see if it's worth it to pay for an XBox/Gamepass rather than just buying each game individually when they drop to $20-30 .