It will be mandatory for the console version to be compatible with the handheld for whatever console it's supposed to emulate. Sony is banking on the PS5 spec having a long life - see Switch extending PS3-level tech by 8 years. It won't stop you enjoying the latest games for high end consoles any more than different PC specs do or the Switch stops/stopped you enjoying or held back PS4/5 games
It will be the same way the Series S has been a pain for many devs, as much as some of the games becoming (timed) console exclusives for PS5 because of it and Xbox first party devs struggling release after release to create something decent.