I'd just like to throw something into the "Series X will have better graphics" argument.
The original PS4 had 40% more teraflops than the original Xbox One. The Series X has 16.7% more teraflops than the PS5. The 2080 Ti (14.2 TF) has 56% more teraflops than the 2070 Super (9.1 TF). But when playing Witcher 3 at 1440p this only results in a difference of 35 FPS between the two cards. 2070 Super will run the game at 100 FPS, and 2080 Ti will run the game at the same settings at 135 FPS. That means that despite having 56% more teraflops than the 2070 Super, the 2080 Ti only gets a 35% performance increase. This just illustrates diminishing returns. If we divide the 35 frames performance boost by the 56% Teraflops advantage we get 0.625 more frames per 1% teraflops increase. This means that if PS5 runs a game at 1440p 100 FPS, then Series X will run the same game at 1440p 110 FPS. A measly 10% performance increase for that 16.7% more teraflops that Series X has. Or to translate that into 60 FPS, that would mean that PS5 runs games at 60 FPS and Series X runs games at 66 FPS. This of course assumes that both new consoles will be targeting 60 FPS, which isn't essential to my argument. We could just assume they both run at 30 fps and say that Series X gets 3 frames more per second, over PS5, for example.
At any rate I hope this illustrates just how much people are splitting hairs when they argue that Series X is more powerful. Keep in mind that PS5 has the SSD that is twice the speed of the Series X SSD, with a custom SSD controller to boot. This could very well translate to a 5%-20% performance boost in games. I don't know if it will or not, but just the fact that it's possible, and the fact that the teraflops difference is so damned low this time around means, that you can't just automatically come out and say that Series X is guaranteed to be better at running 3rd party games. Also keep in mind that even if PS5 games just load faster, and aren't actually better looking, I'd take half the loading times over a 10% performance increase any day of the week. I think most consumers would as well.
Edit: Just for clarification, this isn't directed at anyone in particular. Series X having more power is a common argument in this thread. There have been at least three or four posters that have mentioned this so far.
Oh, and just for one more piece of information. XB1X has nearly 50% more teraflops than PS4 Pro. That's way more than the 16.7% that Series X has over PS5. I think people are expecting there to be the same graphics difference between PS5 and Series X as there was between OG XB1, and PS4. Or the same graphics difference as there is between the Pro and the 1X. This post was just to illustrate that it simply isn't going to be the case with PS5 and Series X.
I know, right? For all intents and purposes, the Xbox Series X and PS5 will be virtually identical to the common eye, and anyone who cares about raw power will get a PC, am I right?