Strictly from a consumer's point of view, with whatever information out there - I do think this is a slight downgrade.
Assuming it's gaming performance being the exactly same (which I think it will be)
Pros: 1.4db less noise
Cons: Uses cheaper heat sink, hotter air exhaust, 5w more power consumption.
For me, my launch PS5's noise level was silent enough - so I am quite happy with it - so 1.4db doesn't really count anything.
5w may be testing error - so we'll see. I've seen some saying that 5w more power consumption meaning it's chips actually hitting the peaks more often - but does it mean it's performance is giving me some frame/resolution boost on certain games? Highly doubt it. The reason I'm actually saying it as a "con" is that it will add up to whatever electricity bill that I'm paying, however little it is - a loss is loss.
Hotter air exhaust doesn't really prove that it's chips are indeed running hot either. (more testing needed)
But what seems to be true, is that it's using cheaper heat sink. (I haven't seen their cost breakdown, but by the looks of it - it only makes sense that it would be cheaper).
Few bucks at the most for each, but probably a few million dollars worth of saving at large scale production.
In the end, essentially you are paying exactly same price for cheaper product. Only winner here really is Sony & their shareholders.
One could say due to the inflation and scarcity of the material would bring up the price - but as a consumer, what matters to me is the value of money that I'm spending at all time.
If they reduced the pricing of PS5 ever so slightly to compensate the savings from logistics & material cost - I would probably won't say much... but no they won't.
All corporations work the same way to maximize their profit, as they should. More often than not - it goes unnoticed below the surface, like many of previous consoles revisions, nor people to care.
All I'm saying is, though - more often that not - such cost cutting measures don't align with consumer's interest - better quality product @ lower price. In this case, they made better product for their profit, not for the consumers. That's why Sony's not really talking or touting about the revision. If they did, their PR division would be touting how improved this is.
Sure, I think revised PS5 will perform the same and I'm the new heat sink is well within the chip's specified limits.
(I am waiting for the test results with some interest like many on here too, popcorn ready)
But it feels like.... I wanted to buy a V6 car - but that car was so wildly popular so quite hard to come by... but somehow the new version of the same year car is now only offered with V4 similar performing, but slightly worse MPG at the same price.
It will get me to point A to B no problem - and maybe with good optimization it would provide similar power and torque to V6 - but it would definitely leave sour taste in my mouth.