I feel like Sony is messing up their messaging with the PS5. Whereas MS is doing much better with their messaging.
To run down a couple of things:
-MS announced their specs first. And some of the more notable specs are better on the Series X. The graphical difference probably won't be very big, but Xbox still has the numbers.
-MS is promising a lot of backwards compatibility across their entire Xbox line up. Sony has promised PS4 BC, but their messaging today has been confusing at best, dismal at worst. No one knows for sure if PS5 will only allow 100 playable PS4 games, or if it'll offer a lot more than that.
-MS has already shown their box, their controller and some small features like quick resume.
In practice, the differences will be much smaller. Both systems will probably be 98% the same when it all comes out. The PS5 will likely have a better price. But right now it feels like MS's messaging is just way better.
It doesn't help that Sony's first public discussion about PS5 was an hour long technical breakdown with very little for the consumer. None of this may matter in a year, but right now it's kind of concerning.
This doesn't feel like the same Sony that launched the PS4 (and it arguably isn't as a number of the people have left or they have taken different jobs in the company). 2013 Sony started off the PS4 with some technical discussions, but they announced several games for it day 1.
Compared to their messaging in 2013 it feels like Sony is pivoting away from gamers and more towards developers. They've been mostly talking about specs, and a few features that developers will be able to take advantage of. While MS is pivoting towards gamers. Even MS's messaging on their specs feels like it's geared as much towards gamers as developers. They're focusing on numbers instead of getting into the deep technical explanations.
Right now it feels like the excitement for PS5 is largely coasting off PS4.