Side by side close ups don't even begin to tell the difference. When I hear "visuals" I also think of scale, number objects on screen, physics, destructibility, density, seamlessness, animations, lighting, effects, and just the overall dynamism.
One thing that positively changed my opinion on early exclusives is how they're apparently rendered in native 4K! The pixel count when we moved from PS360 to PS4-X1 jumped around 1.5x-3x~, leaving the remaining GPU horsepower to increasing visual fidelity. With PS5/XSX, the jump is 4x-8x in resolution for early games (more than twice those of the UE5 tech demo). Meaning: a ton of resources are being used (or in my opinion "wasted") on pushing pixels as opposed to visuals. So with that taken into account, the results are jaw dropping!!
I suspect lowering resolution in favor of pushing graphics fidelity would not only require longer development time, costs, and engine overhauling, but also require game sizes to shoot past 300GBs, which isn't practical at the moment with the prices of SSDs in mind.
Great generation ahead :)