The looking better and running better is debatable. As far as running is concerned, I believe there will be no difference between the two. There isn't enough of a difference in GPU, CPU and RAM bandwidth between them to make for anything more than a 20% overall advantage or the XSX. It's not like the XSX will be able to have higher rez textures or more geometry or run any effect that the PS5 can't.
That's why it comes down to resolution. And this is where the debatable comes in when talking about looking better. Looking better, in this case, wouldn't mean that you aren't looking at an identical game between both platforms. It would just mean that one runs at 2160p "more of the time" than the other. Both will hit that 2160p rez, but one could be running at it 100% of the time while the other runs at that rez for only 80% of the time and drops to like 2052p for 20% of the time.
And as I mentioned earlier the ceiling and floor are already very high. We aren't going to be saying ok this one is at 2160p while the other is at 1800p or even 1440p. When there are drops, we would be looking at drops to like 2052p. So yes, technically at that point the XSX still running at 2160p looks better, but not noticeably so.
Funny enough, where the PS5 does have an edge (those QoL) features you mention, are what would actually be more obvious (albeit not that important either). It would be like 1 second to go from the lobby into the game on PS5 vs 2/3secs on the XSX type stuff. Or 2 seconds to switch between games on the PS5 vs 5 seconds on the XSX.
On a side note, I am not buying a lot of the stuff MSis saying they are doing or adding to BC. Maybe my understanding of these things are limited, but you can't just add HDR to content that wasn't mastered in HDR. You can kind like change the luminosity levels of the overall damage (basically dialing contrast and brightness to 11), but unless they are going and tweaking the output file of every single game in their library, you can't just make something that wasn't mastered in HDR suddenly be HDR. You can't just give the render engine of every game an output pixel depth f 10bit from 8bit.
I`m curious and excited about what Xbox Series X will be able to do with the BC upgrading, including HDR (that is probably some very good algorithm to repack and do a good implementation of HDR, res, texture, fps, etc). It can be great.
duduspace11 "Well, since we are estimating costs, Pokemon Red/Blue did cost Nintendo about $50m to make back in 1996"
Mr Puggsly: "Hehe, I said good profit. You said big profit. Frankly, not losing money is what I meant by good. Don't get hung up on semantics"
Azzanation: "PS5 wouldn't sold out at launch without scalpers."