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It may not be the case, despite the shortages people will end up buying the readily available console. Software becomes a big proponent to hardware sales. If Sony is struggling to create the Ps5 it may delay big name first party titles. 

Microsoft on the other hand is taking advantage of the chip shortage with the series s, most people are going to adopt the series s and upgrade to a series x or even a ps5 when they get their hands on one. Coupled with Microsoft own big exclusive titles like starfield or elder scrolls 6 I wouldn't be surprised if Xbox begins building momentum and actually keep in pace with the ps5 when the shortages end.