I don't hugely disagree, but the OS and other system processes don't come for free on the PC either so the 3700x still has to dedicate some of it's resources to that. It's just not as clear cut as it is with the PS5 and a whole dedicated core.
And although the 3700x can boost to 4.4 Ghz, that's a single core boost and it's base clock is only 100Mz faster than the PS5. If all 8 cores are being pegged out by a game it may not be boosting all that much higher overall, I've read around 4Ghz on a good liquid cooler which is roughly 14% more performance.
Then there's the cache which can clearly offer major benefits for unpredictable PC code, but in consoles where the code is tailored to the available cache of the CPU it's running on, that advantage can be somewhat mitigated. So overall, there's no denying the 3700x is a better, stronger CPU, but I'm not sure the advantages are great enough for it to lose 25% of it's cores and still be considered equivalent to the PS5 CPU. In the case of Spiderman where they're apparently dedicating a whole core to decompression alone, what you're left with is essentially 5 cores on the PC running both the system and game, vs 7 cores on the PS5 dedicated to the game. Even with it's higher clock speed and extra cache is it really any wonder that the 3600x struggles to keep up in that scenario - especially when you add extra API overhead into the mix? That's why I think the 8 cores of the 3700x make for a better comparison. There it's essentially 7 slightly faster cores on the PC for the system + game vs 7 cores on the PS5 dedicated for the game.