When I upgraded from last-gen (PS4 Pro + XBONEX) to PS5 + XB Series X, the differences in visuals were not clear to me as well, and this is on a Samsung 85" QLED. Granted those old consoles were already running most games in 1440p, so bumping that to 4K only gets a bit of improvement. What stood out to me more is the higher framerates and faster loading. I've been underwhelmed with the Series X raytracing implementation in games so far (Watchdogs and Cyberpunk /w Xbox RT is pretty bad actually). However on PS5 there's Ratchet and Clank and Horizon Forbidden West (and sometimes Gran Turismo 7) which have been a good showcase on what raytracing can do; especially when it's baked into the look of the game from the start, and not an afterthought. Ratchet is probably the only game not possible on last-gen, due to the way it uses the PS5 NVME drive to insta-load complex levels on top of levels