PS4 Pro and One X were not proper next gen systems just upgrades. Also since the release of those systems we now have even more 4K TV owners.
You said Series S will be a factor once we have cross gen games stopped with no GTA6 and next COD on previous consoles. Well that could be a very long time away I'm talking 2023/2024. This generation is unique where we have the same architecture so cross gen is here for a very long time. And buy the time we stop getting cross gen games we will get better bundles and deals on Series X and PS5.
£110 is still not as significant for having such a gimped system. We know this because Sony are selling PS5 Digital at a bigger loss and Microsoft didn't go for the Series X Ditial route as they don't want to take that loss. And like I said most casual gamers prefer physical games. Casual gamers are not savvy enough to go to key website to find deals. And you can easily make different region PSN accounts and play them on your main PSN account. I have 4 different region PSN accounts I where I buy games for much cheaper. But again this isn't a big deal in the grand scheme of things as this don't something casual gamers are aware of.
There is a reason Series X and PS5 Disk are constantly sold out as they are the most desirable systems, a proper next gen 4K system with a disk drive. It's not comparable to PS4 Vs PS4 Pro, as Pro was just a update.
I never said 1X and Pro were next gen, point is if casuals cared about resolutions like you claimed and price difference isn't an issue like you claimed then those next gen refreshes would have outsold the original systems when they released, they didn't not by a long shot.
You keep using the word "gimped" I presume as some sort of troll, it's just a less powerful cheaper, smaller less power hungry system. The difference of £110 might not be significant to you but that's not the case for a lot of people and availability is an issue you seem to have ignored.
Yes you can set up several PSN accounts with different regions, but I can just use my main account on Xbox, that's a lot easier and even a casual can type CDKeys into Google and search FIFA or Call Of Duty, saving money is worth the small effort.
We are still in the expensive core gamer stage of these consoles and Spencer said quite clearly he expected the Series X to sell better at first, that's probably why there seems to be about a 60/40 split on sales of Series consoles but it might be 2/3 years into a 9 year cycle before we see that change, like I said when GTA and COD are next gen only.
Also a lot of people especially youngsters will be playing in their bedrooms at more likely 1080p still, Series S is perfect for that situation or as a second Xbox in your house when main TV is in use.