From what I'm reading and seeing in reviews, PS5 feels most like a new console generation. Exciting exclusives like Spider-Man and Demons Souls, new controller and features to play around with.
The modern design has also grown on people. Sony delivered that premium next-gen console experience but they don't offer a lot of options.
Meanwhile, the Xbox Series X is best described as a PC upgrade. It does everything your previous Xbox did and runs the same games, but better and much faster. Like swapping out your PC graphics card.
You get that high-end 120hz / 120fps PC experience for the fraction of the cost of a $2000 gaming PC. But a more 'functional' and understated IKEA like design.
If you're a multi-platform gamer and you don't want to miss out on Xbox exclusives than the Xbox Series S with GamePass is all you need. Basically the GamePass player.
Which makes sense to pair with a PS5 or Switch as your second console.
The Verge made the observation that with PC graphics cards hard being so hard to find (RTX3000-series and 6800 likely as well) some PC gamers might consider the Xbox Series X instead.
It is the closest Microsoft got the Xbox to a PC since the original launched in 2001.