Console is the kind of thing where you upgrade every few years like for obviously games you bought for ps3 or PS4 don't work in the PS5 or Xbox 360 for Xbox one you have to buy one for each console. So people will switch to the competition, you can see on the sales of each consoles where their peak was. People might even get tired of Nintendo,Sony and Microsoft and just go with steam and valve

Every ps4 game works on ps5.