They learned on power with the One X but it made no difference in the grand scale of things.
Millions of gamers have now invested in PS on the back of their exclusives and are tied to, they will continue to do so with PS5 regardless of Series X power advantage, me included.
The Microsoft console really will be for the enthusiast more than the casual and 'bought for' gamer, and looking at the raw specs of the Series X and regardless of what they have learned on price, they just will not be able to compete on that unless they sell it at a major loss rather than just a loss.
PS5 will sell at evens or a loss, Series X will have to sell at a HUGE loss to compete, the specs clearly show that, but to what end? They then have to convince the masses to change/move platform from something they have invested in for 6 years...