Is Switch 2's 256gb on par or worse than PS5's 825 launch model?

[Pemalite]

Factually worse.

256GB is 2,048,000,000,000 bits.
825GB is 6,600,000,000,000 bits.

Will games be smaller? Impossible to tell, the console and games aren't out yet, nor do we have long term trends to observe.