Will Xbox Series X and Playstation 5 big the biggest leap gaming has yet to see?

[Pemalite]

Definitely not the largest leap.

In terms of Ram... There was only a 2x capacity increase at best... And a 20% decrease at worst. (Xbox Series X @ 12GB vs Series S @ 10GB.)

The CPU saw the largest gains with 8-10x especially when leveraging AVX and SIMD.

GPU is only relatively marginal with a 2-3x increase over the enhanced consoles, but there is a slew of new technologies that are coming with it like Ray Tracing cores.