Looking solely at platform exclusives:
Not including Switch, for me the answer of "Am I happy" - YES
BUT
There aren't enough "exclusives"
On Playstaiton side:
PS5 has had some excellent "only on PS5" games in Ratchet, FF16, SpiderMan 2, and I am happy with them, and we have FF7 rebirth around the corner.
Everything else, is it an exclusive if you could have played on PS4? not really for me, but GOW Ragnarok was special for myself and I am happy I played it on PS5. You could argue people didn't play Ghost of Tsushima or GT7 or Horizon 2 on PS4, sure, but these games weren't technically PS5 exclusives.
Still, compared with PS4 it just hasn't "hit" the same, nor the same frequency of major titles. PS4 just felt like hit after hit, year after year. PS5 has games! I enjoy it, but it doesn't feel the same.
On Xbox side:
even more dire than even XBone.... Just Halo Infinite for myself. Starfield didn't really grip me (although I haven't given it a truly fair shake). Forza and Flight simulator are cool but not really games I invest in or would have made me buy the Xbox in the first place.
Again, if it's on PS4 or XBONE, It aint exclusive to the next gen platform (no matter how great Psychonauts 2 may be)
Overall the experience has been great for the PS5 for myself though, because I have had lots to play....I enjoy the non-MW3 COD campaigns, I enjoy the enhanced PS4 games/cross gen Platform exclusives (Like GOW Ragnarok), I enjoy the quality non-exclusive third party games like RE4 remake, Diablo 4
I have enjoyed the Xbox Series for Gamepass and the quality older title experience, so I have been playing that platform as well at times. Now that they have Activision blizzard, depending on how MS handles it with Gamepass Day 1 releases, I may shift my attention more towards it for specific titles (CoD)
Just compared to any prior gen or the Switch, in terms of exclusives, it has not had the same frequency of exclusive games that appeal to me personally. If you are a multiplatofrm owner, there is more than enough to play especially if you have a busy life