I think others have all made good points. We have 3 generations of data now that suggests the absolute ceiling for the global console market is about 300 million units, and there is no sign that that has been increasing.
The PS4 benefitted immensely from both Nintendo and Microsoft being no shows for the 8th generation, but now in the 9th generation Sony faces robust competitive pressure from both Nintendo and Microsoft. In fact I can’t remember a console generation when all major participants had hyper competitive offerings.
The PS5 needed to be selling at least on par with the PS4 launch aligned up until now to have had any chance to outsell it, being several million units behind not even two years into a generation is a huge hole to have to have to climb out of. I just don’t see the path forward for the PS5 to outsell the PS4. There is just way too much competition in a market that isn’t growing, and frankly I think this is a large part of the reason why Sony is committing so heavily to PC now.