No please... It's better that way, much more democratic. Most people just cannot afford to buy hardware every couple of years, why should we remove them the right of playing games that could be perfectly playable on their machines only to give the satisfaction of richer people to have their "exclusivity"?

Like, I've played Horizon Forbidden West and it's for sure run much better on my PS4 than it runs on my 11 years cousin PS4, but the still can play it. Would my experience with Horizon became any better if Horizon was absent from PS4? Not, doubt it. But this kid would probably be much less happy knowing he would have to wait for maybe 4 years to play Horizon again. 

Playing Hogwarts Legacy currently

Very good game, atmospheric and fidelity configuration seems the way to go if you want mass immersion. The game loses nothing played on 30 FPS, as combat is kinda of static and many of the games resolves on exploration and cutscenes

Fast travel REALLY means it: Fast

I got two or three times where I feel the graphics were loading slower than they should, generally when I'm going outdoors. Feels like a game that will be a pain to play on Switch, my advice is to play it on a home console if you can. It's not the kind of game that benefits in any form from portable playing and having a big TV with high Res can make you appreciate all the minimum details done in the environment

I never played a game with so many beautiful artistic design choices. All stores, internal buildings, rooms, doorways, balconies and squares has some mystery to uncover interacting with magic from furniture, objects, statues, paintings... Seems like a game designed to appease Harry Potter fans who always imagined how nice would be to live in the Wizarding world. I wonder how many years were spent designing each location, let alone modeling and developing animation for each one (because everything looks just alive, as if it were... magic)

The thing is that in the past, games were not only on new consoles because they wanted to force people to buy new consoles (even if that was part of it), but because there were new experiences that were only possible on those consoles. You could not make Street Fighter 2 on an NES, Sonic the Hedgehog on a Master System, or Super Mario 64 on an SNES, Final Fantasy X on PS1, Dead Rising on a Gamecube (although they kind of did try), etc. Even if you could technically make ports, they would have to be modified to the point where they were entirely different experiences (see Sonic the Hedgehog on Game Gear, Dead Rising on Wii, etc.) Back in the day, we were paying for entirely new experiences.

Nowadays it feels like we're paying for optimized experiences. It's been a while since I've played a game on any console that I felt could not have been fairly approximated on older hardware. Maybe something like No Man's Sky which is procedurally generated couldn't have been done on 360, but those examples are few and far between. I haven't played anything yet on the SxBox or PS5 that couldn't be done with small compromises on their predecessors.

So, while I'd rather companies port to older hardware when it was feasible, it feels like the value I get from a new console is less and less each generation. It used to be like going from a Motorolla Flip phone to an iPhone. Now it's like going from a Samsung Galaxy 18 (or whatever they're on) to a 19. And if it's worth it to you great, but for me, it's kind of meh. 

i like everything expect some major things.

Coil whine , its unbearable sometimes, i have to play in headphones or loud just to not.
Noise , very loud , washing machine loud when i played konami efootball, first time i noticed i was like , who the fuck is doing construction work outside, it was the console lol. I will try to clean it because if dust soon, might help i dont know.
Controller is fantastic but its not made for my hands, hurts my right hand because it have a "sharp" shape instead of round like ps4 controller.

Everything else us amazing and i love how is so much better and fast it is.

This is true for early gen games. I don't know how could I possible play Final Fantasy 7 remake on PS3... eventually the games coming that are not possible to run in a nice state on PS4 will come too. Any game with flying exploration currently is been pushed back by older hardware loading times, imagine playing the next Horizon with even faster flying? An absolute dream. Also games more cinematic are now able to express more detail on characters expression/acting which make a huge difference

I think it's OK to delay the purchase of new hardware until you find that the enhancements are good enough to justify a purchase, but I do not want exclusivity to be back as the standard. First it will take TIME for those games to be made. PS5 is now out for over 2 years and will take a while for devs know how to fully use it. If development for next-gen only games started let's say in 2018 and we needed to wait until we have a meaningful exclusive library for launch then PS5 would likely not coming until the end of this year, basically restricting the best experience for current AAA games to PC gamers while console gamers would need to wait for years 

Coming up on 2 years in a few months I rate it at 7/10 now.

Pros:
- Fast loading
- Fast boot from completely off
- Great controller apart from stick drift :/
- Surprisingly cool compared to the heat that comes of my Series X
- Works great horizontally
- Full BC with ps4 without any extra downloads
- Can have both ps4 and ps5 versions of games installed at the same time (was useful for GT7, split user base between the two versions)
- One touch mute all on the controller

Cons:
- 15 minute DRM, psn down can't play or if playing get booted 15 minutes later. (secondary ps5)
- PSN digital license check issues (secondary ps5) often negating quick resume (got to wait for license to be verified, often requiring a full restart anyway)
- Can't play CDs
- Can't play many video formats
- (4K) Blu-ray player is kinda slow and doesn't remember my subtitle settings
- Internet browser?
- Stand won't stay on when using it horizontally
- UI kinda sucks, still not used to it after 2 years
- Can't set the console to turn off automatically, always goes into rest mode even though everything for rest mode is set off.
- Can't turn the console from rest mode to off without turning it on first (gets angry when you unplug and move it while in rest mode)
- HDCP issues with my Sony TV, sound and or screen sometimes randomly cutting out for a second. Full restart plus tv reboot fixes it. (hasn't happened in a while perhaps fixed with a stability update)
- Inconsistent HDR settings, plus setup calibration often comes up again after moving to a different TV (all used before)
- Video capture with HDR on looks bad
- Can't set accessibility options (button assignments) on a game by game basis
- Screen magnification is difficult and confusing to use
- PSN store is slow
- Game library is slow and missing useful sorting/filter options

The games have been great so far apart from GT7 being a bit of a disappointment. I'm looking forward to PSVR2 although the lack of BC and no 3D blu-ray playback are two big cons for that.

I still use my ps3 more for a video player. Plays CDs, better blu-ray player, plays all my video formats, better UI. PS4 is obsolete now.