Previous UE5 demos had the 3090 delivering 4K60, when the PS5/XSX only did 1440p30. That's 3X faster right there. And without factoring in Ray Tracing performance at all.
Matrix City is heavily CPU bound on PC at the moment, GPUs are not used to their fullest, and thus are delivering subpar performance, when the demo is fully optimzied, then we can compare performance, otherwise, it's not a base for comparison.
Times are different, silicon performance is slowing down, PC upgrade cycle is slowing down as well, previously it was every 12 to 18 months, now it's 24 months, it's just the way things are technology wise.
Next year there will be an RTX 4090 with 4X the performance of a PS5. Don't worry, the status quo won't change much, it's just been delayed by a few months.