I wouldn't be so sure! Most industry analysts agree that the specs are entirely plausible, especially if you consider that Microsoft and Sony can sell each console at a loss and instead profit massively from software sales.
I don't expect the PS5 to outperform high-end gaming PCs, however I do expect it to compete on price! You will be hard-pressed to build a PC for £499 with the same graphical capabilities, an exceptionally fast SSD, and a 4K UHD Blu-ray drive!
Also, it's worth remembering that:
Found an old Reddit post on the subject. It's an interesting read:
Why I left PC gaming (for good)
