I'm in the same situation. I've gone almost exclusively digital this gen. I still have the original Xbox One (not S or X) and it works fine for me.
I had the Series S on pre-order, but decided to cancel it, not because I'm worried about resolution or storage or anything, mostly because the launch lineup sucks and the first versions of consoles tend to have a few issues. I decided since I have so many games on backlog, so many other systems (PS4, PS3, PS2, Wii U, Gamecube, Dreamcast, Saturn, N64, etc, etc.) that I really don't need the new systems yet. So until some must have games come out, perhaps some sort of bundle (free Game Pass months, extra controller or digital download) I'll save my money.
I am actually disappointed with the lack of demo/information on Series S. I understand it will not perform to Series X/PS5 levels and that ok. But I think it is gonna be a HUGE success. The price point is great, and for the average customer (not hardcore gamers such as us) it is the perfect machine.