Both Playstation 5 and Project Scarlett feature processors build on 7nm AMD Zen 2 architecture and both will feature AMD Radeon Navi GPUs. At this time, we don't have any specifics on clock speeds for the CPUs or clock speeds/compute unit counts for the GPU. Both console will feature GDDR6 RAM, support for up to 8K visuals, and hardware ray tracing.
Both the Playstation 5 and Project Scarlett will incorporate backwards compatibility. The Playstation 5 will be compatible with the Playstation 4 and Playstation VR, while Project Scarlett will be compatible with the Xbox One, Xbox 360, and Xbox. Jim Ryan, the new CEO of Playstation recently remarked that “Whether it's backwards compatibility or the possibility of cross-generational play, we'll be able to transition that community to next-gen. It won't be a binary choice about whether you have to be either on PlayStation 4 or next-gen to continue your friendship.”
Microsoft has promised the Project Scarlett will launch by Holiday 2020 alongside alongside the next installment in the Halo franchise: Halo Infinite. Sony has not announced a release date, but many believe it will also be available by Holiday 2020. There has also been some debate about the pricing for the new consoles. Wedbush Securities analyst Michael Pachter remarked in an interview with GamingBolt that both consoles are easily worth $500. However, he believes that Microsoft will price their console at $399 USD and that Sony will follow suit.
Which console will dominate? Overall, the consoles' specs and price points are very similar. The outcome of the battle will likely depend on the games that are available for each console and the strength of their subscriptions. The upcoming Halo Infinite game could give Project Scarlett a big lead. However, there have also been several wildly successful Playstation exclusive games like Horizon Zero Dawn, God of War, Marvel’s Spider-Man, and the Uncharted series. The success of these upcoming consoles will ultimately depend on whether consumers feel that they are getting their money’s worth.