Oh, but that's not what Michael says in the video. There are a few (rare) dips on PS5 too and he even show them. What he says is that Series X stutters a bit while driving through the city whereas PS5 does not. It doesn't mean PS5 doesn't dip in other parts like heavy combat scenes, he clearly showed us it does and even states that in some occasions Series X can be ever so slightly better. Not always though. PS5 seems to have a slight edge since Michael states that with the new patch Series X "is almost on par" with PS5, so I guess it's not quite there.
But anyway, both versions seems to be pretty much the same now. If you have a VRR compatible display you might want to play it on Series X, unless Dualsense features are super important to you (which is not my case, to be honest).
This is one person who even states it is a quick look at the new patch. I will wait for digital foundry and VGtech to get a good idea on performance and pixel counts.