>crawling through crevice while next area loads
It's not looking good for Sony right now. Hardware specs are way below that of the Xbox Series X, and Xbox has a stable and proven digital delivery system in place.
Meanwhile Epic partners with Sony to showcase their new engine, which relies heavily on the one thing Sony said the next generation wouldn't have, narrow passageways to load the next area.
As far as the engine goes, the ability to compress that many triangles and load them fast enough to be usable is amazing. The manipulation textures will also be a fantastic option for developers.
Unfortunately, we won't see any games really using this engine for another 2-3 years. Epic might release something before that, but I doubt there will be many third party developers running UE5 for a while.