The graphics are definitely top-notch and run just as well as PC, but it's sad how you technically don't own the games you are paying for even if you have it on disc. It's just a digital licence that they can take away at any moment.
PS5 does have great games on it, but nothing can beat Little Big Planet for PS3 or Dynasty Warriors 4 for PS2. Definitely recommend those, you can easily get them on PC with an emulator.