1440p, storing in external storage or quick resume can be added via firmware update, as VRR is very likely to come since it was supported. So regarding these advantages, PS5 can achieve them. And regarding quick resume in next gen games between shorter cold boot times and having the quick access to stages or game modes the time can be even shorter in PS5. Without it, even if it doesn't resume exactly in the some point it works with all the installed games instead of with the few last played ones son in average you may save more time in PS5 in next gen native games.
We also have to see the difference in next gen exclusive multis both in performance and loading times. Series X has a bigger theorical peak in some areas, PS5 has a lead in other ones (like GPU frequency, I/O, etc) so we still have to see if the supposed we can assume specs (which proportionally are smaller than in the previous gen) is really there of it's as big as we can understand from the specs. Specially now considering that with modern image reconstruction techniques it's more difficult to spot games that have been rescaled in their resolution. I think that beyond watching DF-like videos almost nobody will notice the differences.
Regarding Gamepass, we still have to see how PS Now is going to be this gen and how it's going to perform in PS5 and which type of games they add. I mean, we saw PSN now features crazy speeds and isn't superslow anymore. This, combined with the PS5 hardware decompression system, increased speed and reduced latency of wifi 6 and Bluetooth 5.1 and a potential improvement in their coded or resolution must mean that PS Now streaming will perform way better on PS5 than in PS4 and will potentially perform better than xCloud for consoles (due to the compression/wifi6/bt 5.1). And well, we know that even if doesn't feature day one AAA games it has a way bigger library. And well, now there's the PS Collection there on top of that.
I mean yes, Series X has a lead in several areas now. But some of them we still have if it's really the case because we have to see them on real world instead of in paper. And we also have to see if other ones aren't already solved via firmware update by Sony in a few weeks or months as it is the case of VRR support to name one.
I think that in a few weeks or months the list of things where Series X has a lead will be way shorter. And obviously they may be important for some people and for some other ones they will prefer MS exclusives/brand for many reasons like to keep their library, they may prefer the Gamepass approach or another thing like their Quick Resume approach, so I think many people will still prefer Series X.
But I think that in overall PS5 has more benefits and more importantly, I think they will be more important for the majority of players. Like the amount of big exclusives during the first or second year, how fast native games load and maybe some additional innovation if it ends being meaningful and properly supported by 3rd party games like the cards or the DualSense features instead of being a mimick that only ends being used by a couple of games. And well, this is beyond talking about having a bigger pool of previous gen players who want to keep their library etc.