The PlayStation 5 launched over two years ago in late 2020 as Sony‘s latest entry into the home video game console market. In 2023, the PS5 is still a highly coveted device that can be difficult to find in stock. With this extended period of limited availability, you may be wondering if it‘s worth continuing to try and secure a PS5 purchase right now. There are several factors to evaluate when determining if 2023 is the right time for you to invest in a PS5.
An Impressive Step Up in Power
First, it helps to understand just what a technical leap the PS5 represents over previous PlayStation generations. Sony packed plenty of cutting-edge components into the PS5 to deliver substantially better performance than what came before it.
The custom AMD Zen 2 CPU with 8 cores at 3.5GHz offers around a 30% uptick over the PS4 and PS4 Pro. This allows games to run at higher framerates and handle more complex physics and AI calculations. The PS5‘s custom RDNA 2 GPU is likewise over twice as powerful as the PS4, enabling advanced graphics effects like ray tracing acceleration in compatible titles.
Games load incredibly fast on the included custom 825GB solid-state drive (SSD) as well. Its raw 5.5GB/s throughput dramatically reduces load times versus old hard disk drives. Developers can also stream assets seamlessly from this speedy storage and bypass loading screens altogether.
So in terms of baseline hardware capabilities, the PS5 clearly delivers a huge generational leap over previous PlayStations. Games built specifically to tap into the PS5‘s horsepower showcase just how stunning this new era of console gaming can look and feel when firing on all cylinders.
Great Backwards Compatibility
The PS5 also fully supports backwards compatibility with an extensive library of PS4 games–over 4000 titles in total as of early 2023. You can insert physical PS4 game discs directly into the PS5‘s drive bay or redownload any PS4 games you own digitally. These titles benefit automatically from steadier performance via the PS5‘s Game Boost feature too.
Backwards compatibility ensures you won‘t lose access to your existing PS4 game collection when upgrading. It also gives cross-generational titles like FIFA 23, Call of Duty: Modern Warfare 2, and Elden Ring graphical enhancements like higher resolutions and framerates on PS5. You don‘t necessarily need to buy brand new PS5 exclusives right away to appreciate the power of the hardware.
More Exclusives Still to Come
With that said, the PS5‘s lineup of platform exclusives specifically built to showcase its capabilities is still growing steadily. Early showcase titles like Spider-Man: Miles Morales, Ratchet & Clank: Rift Apart, and Horizon Forbidden West gave us a taste of what‘s achievable on PS5. These games run beautifully at up to 60fps or higher at 4K resolution while also delivering near-instant loading and those aforementioned ray tracing and spatial 3D audio effects.
But as the install base expands, more ambitious exclusives are steadily releasing too. In 2023, highly anticipated system sellers like Marvel‘s Spider-Man 2, Final Fantasy XVI, Resident Evil 4 Remake, Street Fighter 6, and the new PlayStation VR2 headset‘s slate of VR-exclusive titles all help make the PS5 an increasingly compelling proposition. We likely won‘t see the true potential of the console fully tapped into until later in its lifecycle, so the library has much room left to grow.
Demand Still Outstrips Supply
Yet two years removed from launch, the biggest barrier facing prospective PS5 buyers is still finding one available to purchase in the first place. Production and distribution problems stemming from parts shortages, COVID-related supply chain disruptions, and scalpers using bots to scoop up limited inventory have all contributed to chronic stock issues ever since the 2020 launch.
While supply has stabilized somewhat relative to the extreme scarcity seen in 2021, buying a PS5 remains challenging. Retailers receive fairly limited resupply shipments that still sell out near-instantly. So under normal circumstances at major stores, luck and perfect timing are often required to beat out other shoppers and scalper bots rushing to empty out scarce inventory.
Sony has acknowledged these frustrating supply problems and says production is ramping up to meet the ongoing heavy demand. But they‘ve offered similar assurances for over two years now with little relief for general consumers. So until Sony manages to close this huge gap between supply and demand for an extended period, expect the PS5 to remain difficult to purchase online or in-stores at MSRP.
Scalper Markups Remain High
The grim retail availability reality means opportunistic resellers continue applying massive markups on the secondary market as well. On eBay and stock tracking sites, $500+ price premiums over the $499 base cost for the disc drive PS5 and $399 for the all-digital model are still commonplace.
These inflated costs obviously diminish the value proposition substantially despite how impressive the console‘s capabilities are. Yet many consumers desperate to secure a system are willing to pay well over sticker price, which gives scalpers little incentive to end the price gouging. Until supply evens out considerably though, eBay and local resellers may be the only options for those absolutely eager to obtain a PS5 ASAP regardless of pricing.
PS4 Still Offers Great Value for Patient Gamers
Given the persistently limited supply and high resale markups, I generally recommend most gamers who already own a PS4 or PS4 Pro simply stay patient and hold off on a PS5 purchase for now. Your trusty PS4 likely still has plenty of life left in it, especially if you upgraded to a Pro model or replaced the internal hard drive with an SSD.
A base PS4 provides many of the same games at lower graphical settings and performance, though typically still quite playable depending on title optimization. And the PS4 Pro runs games at resolutions and visual quality approaching the PS5. Unless you absolutely require the pinnacle of console fidelity or load times, a well-maintained PS4 Pro gives you access to around 95% of the same games library.
between periodic sales on older games and the launch slate of new cross-gen releases supporting both platforms, the PS4 ecosystem remains highly compelling for budget-focused gamers who don‘t demand cutting-edge graphics and hardware. Considering the PS4‘s library encompasses most of this console generation‘s classics, you can enjoy an immense game catalog without the PS5‘s supply and pricing headaches.
PlayStation Plus Must-Have for Online Play
One aspect where Sony provides less flexibility for console owners is requiring a paid subscription to PlayStation Plus for online multiplayer gaming. The base PlayStation Plus Essential tier runs $59 annually and provides the prerequisite online connectivity along with features like cloud storage and monthly free game downloads. Players coming from Xbox may bristle at now needing to pay for online gameplay. But that consistent revenue helps fund Sony‘s robust software and service ecosystem.
PlayStation Plus‘s importance does complicate cost projections for prospective PS5 buyers though. The hardware itself may already run you $500+ when including scalper premiums. Then you need to budget in another $60 yearly for multiplayer viability. And tax increases the upfront and ongoing costs further for a sizeable investment. That financial outlay seems more reasonable for the PS5‘s impressive specs. But for PS4 owners weighing eventual upgrades, the value relative to hardware pricing demands more careful evaluation.
Game Subscription Services Can Soften the Blow
To help ease that financial barrier, PlayStation Plus thankfully isn‘t your only online multiplayer option. Sony also offers the Netflix-style PlayStation Plus Premium game subscription with access to an expansive library of legacy PS1, PS2, PS3 and PS4 games alongside modern titles. At $17 monthly or $119 annually, this top tier plan grants online play and thus technically saves you $60 yearly relative to the Essential plan.
You also gain access to PS5 exclusives like Returnal and Ratchet & Clank: Rift Apart that you can download and play locally. So if you anticipate checking out at least 2-3 of the service‘s marquee titles per year, Premium nets you substantial savings and effectively cuts software costs down greatly. Just be sure to weigh your personal gaming habits and title interests against any subscription service to ensure you‘d actually utilize it enough to justify the outlay.
Microsoft‘s Xbox Game Pass operates very similarly on Xbox consoles and PCs with a deep game portfolio. So if you play games across platforms, Game Pass is another solid value. These "Netflix for games" plans won‘t single-handedly offset the PS5‘s inflated pricing. But they do provide extra assurances you‘ll have plenty of outstanding software to utilize once you get your hands on the console.
Power Now, More Games Later
Fundamentally, as we enter 2023, purchasing a PS5 remains an appeal primarily geared toward early technology adopters. You sacrifice availability and pay a premium whether buying from opportunistic resellers or getting lucky with retail inventory drops. But you gain bragging rights flaunting the most powerful console hardware on the market capable of jaw-dropping visuals when fed the right software.
It‘s an investment banking on Sony‘s strong track record of securing elite game releases down the road as studios better optimize titles for the cutting-edge specifications. So buying a PS5 now rewards patient players willing to steadily build up an impressive next-gen game library while the install base grows.
If you‘re eager to dive into the latest graphical showcase pieces like Horizon Forbidden West and can handle the inflated costs and limited supply challenges, 2023 remains viable for staking your claim to Sony‘s ecocsystem early. But more budget-focused gamers happy with their PS4 back catalog and performance still have little reason to rush out for a PS5 just yet. Though as Sony stabilizes production pipelines and marquee franchises like God of War Ragnarök eventually go full next-gen, the PS5 value relative to PS4 and Xbox consoles keeps appreciating over time.
So in closing, envious glances at PS5 performance supremacy today foreshadow the ascending greatness inevitably awaiting PlayStation gamers tomorrow. This console war marathon has only just kicked off its first few miles. Once the PS5 hits its stride with freely flowing inventory and ambitious sequels realizing the platform‘s sky-high potential, fencesitters will have enviable motivation to pledge their allegiance. For now, it‘s perfectly reasonable to delay that commitment or seek cheaper substitutes. But make no mistake–Sony is playing the extremely long game here. And based on the PS5‘s profoundly promising foundations, the future remains distinctly PlayStation.