We know from Nico Partners that before the Switch launched in China there were around 3 million Switches on the Chinese gray market,

As Japan is the only country that's getting substantial PS5 shipments in the region, we can assume that quite a lot of the hardware sales actually end up being resold in China and other gray markets in the region. This would explain why the best-selling game on the PS5 is failing to break 50K physical sales on a user base of 345K.

Once the PS5 launches in China we hopefully see it becoming more readily available to regular customers which in turn should help the software sales.

Let's look at facts.

We can see thousands of PS5's sitting on resale sites (eBay, Facebook, etc)
Software sales are not very high.

I think we are seeing artificially inflated demand.

Famitsu Sales: FY 2020 (2020 Mar 30 - 2021 Mar 28)

01./00. [NSW] Animal Crossing: New Horizons # (Nintendo) {2020.03.20} (¥5.980) - 4.102.444 / 6.710.861
02./00. [NSW] Momotaro Dentetsu: Showa, Heisei, Reiwa mo Teiban! (Konami) {2020.11.19} (¥6.300) - 2.072.296 / NEW
03./00. [NSW] Ring Fit Adventure # (Nintendo) {2019.10.18} (¥7.980) - 1.734.446 / 2.479.573
04./00. [NSW] Monster Hunter Rise # (Capcom) {2021.03.26} (¥7.990) - 1.302.132 / NEW
05./00. [PS4] Final Fantasy VII Remake # (Square Enix) {2020.04.10} (¥8.980) - 954.342 / NEW
06./00. [NSW] Mario Kart 8 Deluxe (Nintendo) {2017.04.28} (¥5.980) - 910.664 / 3.751.594
07./00. [NSW] Clubhouse Games: 51 Worldwide Classics (Nintendo) {2020.06.05} (¥3.980) - 668.725 / NEW
08./00. [NSW] Super Smash Bros. Ultimate # (Nintendo) {2018.12.07} (¥7.200) - 595.665 / 4.218.939
09./00. [NSW] Super Mario 3D World + Bowser's Fury (Nintendo) {2021.02.12} (¥5.980) - 592.683 / NEW
10./00. [NSW] Super Mario 3D All-Stars (Nintendo) {2020.09.18} (¥6.480) - 578.850 / NEW
11./00. [NSW] Pikmin 3 Deluxe (Nintendo) {2020.10.30} (¥5.980) - 552.910 / NEW
12./00. [NSW] Minecraft # (Microsoft Game Studios) {2018.06.21} (¥3.600) - 540.900 / 1.872.739
13./00. [NSW] Pokemon Sword / Shield # (Pokemon Co.) {2019.11.15} (¥5.980) - 471.852 / 4.014.376
14./00. [NSW] Splatoon 2 # (Nintendo) {2017.07.21} (¥5.980) - 469.560 / 3.825.969
15./00. [NSW] Super Mario Party # (Nintendo) {2018.10.05} (¥5.980) - 468.982 / 1.850.769
16./00. [PS4] Ghost of Tsushima (Sony Interactive Entertainment) {2020.07.17} (¥6.900) - 439.739 / NEW
17./00. [NSW] Hyrule Warriors: Age of Calamity # (Koei Tecmo) {2020.11.20} (¥7.200) - 356.416 / NEW
18./00. [NSW] Paper Mario: The Origami King (Nintendo) {2020.07.17} (¥5.980) - 310.874 / NEW
19./00. [NSW] eBaseball Powerful Pro Baseball 2020 (Konami) {2020.07.09} (¥6.980) - 293.242 / NEW
20./00. [PS4] Resident Evil 3 # (Capcom) {2020.04.03} (¥7.800) - 272.004 / NEW
00./00. [NSW] Sakuna: Of Rice and Ruin # (Marvelous) {2020.11.12} (¥4.980) - 147.828 / NEW
00./00. [PS4] Sakuna: Of Rice and Ruin # (Marvelous) {2020.11.12} (¥4.980) - 83.165 / NEW
00./00. [PS5] Marvel's Spider-Man: Miles Morales # (Sony Interactive Entertainment) {2020.11.12} (¥5.900) - 46.000 / NEW

Top 20

NSW - 17
PS4 - 3

SOFTWARE

HARDWARE

Full Top 10 for the week is now out.  Top 30 will be out soon.

01./00. [NSW] New Pokemon Snap <ACT> (Pokemon Co.) {2021.04.30} (¥5.980) – 147.742 / NEW
02./02. [NSW] Monster Hunter Rise # <ACT> (Capcom) {2021.03.26} (¥7.990) – 102.952 / 2.073.323 (+19%)
03./03. [NSW] Super Mario 3D World + Bowser’s Fury <ACT> (Nintendo) {2021.02.12} (¥5.980) – 27.096 / 701.758 (+69%)
04./01. [PS4] NieR Replicant ver.1.22474487139… <RPG> (Square Enix) {2021.04.22} (¥7.800) – 25.601 / 134.439 (-76%)
05./04. [NSW] Momotaro Dentetsu: Showa, Heisei, Reiwa mo Teiban! <TBL> (Konami) {2020.11.19} (¥6.300) – 23.774 / 2.148.835 (+91%)
06./05. [NSW] Ring Fit Adventure # <HOB> (Nintendo) {2019.10.18} (¥7.980) – 16.928 / 2.539.637 (+38%)
07./06. [NSW] Mario Kart 8 Deluxe <RCE> (Nintendo) {2017.04.28} (¥5.980) – 15.686 / 3.809.638 (+52%)
08./07. [NSW] Minecraft # <ADV> (Microsoft Game Studios) {2018.06.21} (¥3.600) – 13.607 / 1.924.188 (+48%)
09./08. [NSW] Animal Crossing: New Horizons # <ETC> (Nintendo) {2020.03.20} (¥5.980) – 11.947 / 6.755.379 (+44%)
10./09. [NSW] Super Smash Bros. Ultimate # <FTG> (Nintendo) {2018.12.07} (¥7.200) – 10.480 / 4.259.976 (+55%)

3DS selling as much software as PS5 is just crazy... wonder if New Leaf is outselling most PS5 games

ok, make belief plus 65% digital = 513.285 software sales( digital and physical) 

tie ratio game/ console = 0,88

not good at all. 

Have Ps5 in Japan with no game purchase? Only digital-only game ( 5$ games)

I don't think so. 

I never said they weren't a problem, you however, insinuated a large chunk of PS5's being bought were by scalpers, yet you can't even prove 5% of them are being scalped? 

MH: Rise had a 35%+ digital split on the Switch but we got still people in this thread doubting PS5's digital split being above 50%? 

Returnal wasn't the best selling game on PSN in April for NA/Europe, not sure where you're getting a 6K worldwide figure for PSN, but that's a laughable lowball. Do you think Sony is lying to their investors in their financial reports? 

Edit: Misread the post. But I'd like to know why you think Returnal has a higher retail cut than digital? Do you have any info that offers more insight than Sony's financial reports?