Overall, pretty close between the two. Actually closer than the PS4/Xbox One were overall, but with more arch differences.
So some parts of the PS5 GPU will run faster than the Xsx, but the Xsx is wider. And oooh, a slightly faster CPU for the Xsx as well, barely. Same ram, both NVME SSDs. MS's weird insistence on sustained throughput for SSD speed is only useful in a handful of titles, open world games where you zip around really fast. But double the bandwidth means bursty or not, the PS5 will load bursts twice as fast, which is when players notice it anyway (starting up a game, a match, fast travel, whatever). Also weird to see both having compression blocks for zlib and stuff.
Price is hard to determine, but may be pretty close as well. The PS5 CPU is less costly than the Xsx, but their GPUs might be siiimilar in price? With the high clockspeeds yield will go down on PS5 even as the much smaller die from the GPU drives them up... uhh, anyone have the TSMC 7nm yield curves for clocks/mm?
All that being said, it does seem like the PS5 will be easier to develop for. No split memory arch you have to take into account, just a straight 256bit bus to 16gb of ram. Super easy API for the decompression block promised, no "magic" texture mip dumping that might not work at all and will obviously break for many raytracing applications anyway, etc. The one caveat is Cerny's weird obsession with audio. Like, I get it, good audio design is cool and all. But a custom audio engine, taking pictures of your ears, bro most games don't even have good sound design no matter their budget (cough most of $200+ million costing RDR2 cough).
I'd expect something similar to last time but inverse. If a title runs at 2160p on Xsx it runs at 1890p or whatever on PS5, but then the PS5 loads the game up faster and stuff. Oooh, whatever. Obviously MS will have the "higher number advantage" but I'd imagine exclusives will play an even larger role, and MS is just terrible at that right now (No fucking next gen exclusive games for at least a year? Shoot yourself now MS).