I was thinking back to the last mid gen refreshes for both platforms, and I remember being underwhelmed. Those launch consoles were really lacking power too, something I don't think the PS5 suffers from (remember last gen running games at 800p instead of 1080p and sub-30fps numbers). I seem to remember, games worked fine on it, but most didn't show much improvement beyond load times. It wasn't like most multiplats had a massive boost.
I wouldn't call it buyers remorse for rushing out and buying both mid-gens, but it definitely was underwhelming.
I really wonder what price point they set, and what kind of improvements we'll see in games. Maybe I'm not remembering the last mid-gen that much, but I don't seem to remember any "wow" games pushing beyond what we had. That said, if it is $500 I'll probably buy one. I need to replace my old Xbox mid gen (what was that even called lol) on my main TV. My niece and nephew come over and complain how slow games take to load.