If T239 reports are correct, it looks to be PS4 Pro level in terms of raw processing power, but on par with the 9th gen consoles in terms of RAM and memory speeds (which is a big leg up given loading times being a big selling point for 9th gen) and with the latest bells and whistles from Nvidia like DLSS and real-time raytracing.
In essence, while on paper you're looking at PS4 Pro specs, I wouldn't be surprised if it performed on par in many cases with the Series S in real-world testing with DLSS enabled and definitely on par with the other 9th gen consoles in terms of loading times