Teraflops are not a good metric, they don't remain the same from one gen to the next of AMD tech. But the reason people are trying to downplay the figures is due to fear and they should be fearful because when this console launches, it becomes the best place to playthe biggest releases, with the most optimized games and many fully exclusive games...importantly GTA6.
It may not show the performance of 33 or more teraflops in every situation but don't be under any illusion, it will be a very noticeable step up... some people hype up GPU releases that come annually while trying to undermine this OPTIONAL upgrade that comes after 4 years.
I think there should be upgrades every 2-3 years for PlayStation TBH.