*People need to wait for next gen only games from the major AAA developers!!*
That's the only thing that can be said. Until those sorts of games are revealed, we're basically in the dark as to what the consoles will ultimately deliver. There's just no way round it. Yes, it's been frustrating having to wait for so long for that stuff to materialise, but cross gen stuff that can't take advantage of the CPU, the SSD, to some extent the GPU, and even the RT cores, simply isn't a fair measure of what the consoles can do.
Otoh, consider the following:
1. The one game we have that basically qualifies (only basically cos it was probably a relatively small production with a limited time frame) is Ratchet. Most people think that looks spectacular, me included. And it does so at native 4k40fps - that clearly shows a huge gain from cross gen productions in terms of fidelity and performance.
2. Snippets from other games like Hellblade 2, Dead Space, and Starfield I would argue are even more impressive, albeit with the caveat that we don't know how they'll actually turn out. That's further evidence that a big leap will eventually come.
3. The Unreal 5 demos both demonstrate very large leaps that might eventually become the standard.