I try not to get too sucked into video games, as I had quite the long affair with GTAV over 5 years. I was on that damn game every second I wasn't at work. I'm replaying Ghost Of Tsushima now because I got a new TV and the game looked so good on my last one, I HAD to see it at it's fullest quality. I loved the game itself, too, and usually replay my favorite ones once or twice.
As for the PS5, I've considered buying one for the hiked up price, with the reason being that my PS4 is my main source of tv-related entertainment. I don't have cable and just use all the streaming services from it. I've DEFINITELY gotten my $400 worth out of it, over and over again. So in that frame of mind, spending $800 on a PS5 isn't too crazy to me, because it'll be my main source of entertainment again, in the context of watching tv/playing video games. But I haven't totally sold myself on the idea yet, so we'll see.