The crazy thing about this is PS5 has a massive IO advantage, cache scrubbers, the geometry engine and of course better interconnects. Yet if we look at some pure math, XSX has more CU's, but clocked at a much lower rate, it has divided memory pool rates. It's CPU advantage is negligible since it's OS and three pronged layers consumes much more CPU time over PS. To understand this, PS even have the advantage in CPU bound scenes because it has less bottlenecks overall. You look at most open world games which are mostly CPU bound and PS5 excels. Look at Elden Ring, Valhalla till they butchered it with a patch and many others. Yet, here are some advantages Ps has.What hardware advantage? Both have advantages in some areas. One has the teraflop advantage and a very small CPU advantage, the other has an advantage everywhere else.
Triangle rasterization
PS5 - 4 x 2.23 = 8.92 BT/s
XSX - 4 x 1.825 = 7.3 BT/s
20% advantage for PS5
Culling rate
PS5 - 8 x 2.23 GHz = 17.84 BT/s
XSX - 8 x 1.825 GHz = 14.6 BT/s
20% advantage for PS5
Pixel fill rate
PS5 - 64 x 2.23 - 142.72 GPixel/s
XSX - 64 x 1.825 - 116.8 GPixel/s
20% advantage for PS5
Now combine such advantages with cache scrubbers, the geometry engine and a large and consistent ram pool, you begin to see how smoother games can run on PS over XSX in many scenarios. Obviously different engines favor different archs, but if the system is advanced and if the system can integrate the PS's IO system strengths like we saw in Ratchet and soon to boost world generation and texturework like in Nanite, we will see some really impressively detailed games at a very stable framerate down the road on PS.