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Let's call it "PS Ultimate", a merge of PSPlus and PSNow.
Here is the deal in 4 basic points.

1. The price does not change, same value as PS Plus.
2. PS Plus does not give free games every month, instead it gives access to all PS Now games, download and play.
3. Users of other platforms pay the current price of PSNow, "PS Ultimate", merger of PSPlus and PSNow, is exclusive for PS5 users.
4. PS Ultimate users can use PSnow from any PC, the only limitation is that only one device can be active at a time. Ex: If you are logged into the PC, it is not possible to log into the playstation account, the opposite also applies.

Is this a good deal?

Prediction: In 5 years Nintendo will Lauch a "Core Mario game"  very similar to Astro Bot. That said, many will Ignore Astro Bot existence and say Nintendo created this concept.