Is this a troll/bait thread? Your opening and closing remarks are diametrically opposed to each other. Bad thread, man.
Beyond that, the things you listed as strong arguments against the PlayStation 5 are far from strong arguments.
- Game Pass is more of a gimmick right now than anything. People might play games on it here and there, but Game Pass itself doesn't hurt Sony in any measurable way. Mostly I see people using Game Pass to play games they were never going to buy anyway, and that doesn't hurt Sony at all. Game Pass isn't a console seller. It's just something to use if you already have the Xbox Series S/X.
- Backwards compatibility was something the Xbox One had going for it, and we saw how that console fared against the PlayStation 4. It's a nice feature to have, but its not a console-saver by any stretch of the imagination. Also, the PlayStation 5 is backwards compatible with PlayStation 4 games, and I would hazard a guess that games will be backwards compatible going forward since they have moved to a standardized architecture.
- Emulation has never been an Xbox or PlayStation seller. The amount of people using these devices for emulation is minuscule. Emulation makes a lot more sense with the Nintendo Switch or the Steam Deck.
Combine the user base that is ditching Sony and migrating to Microsoft over these three items and Microsoft will steal maybe a couple million users from Sony. And that's being generous, by the way. The only thing Microsoft has going for the Xbox Series S/X is the publishers they acquired. The Bethesda acquisition alone will cause more people to by an Xbox Series S/X than the above three traits combined.
P.S. That last part isn't a dig against Microsoft. I've got my Halo Infinite edition Xbox Series X sitting right in front of me. It's a great console, and Microsoft should be proud of it. But the console plus the three features you mentioned aren't going to cause Microsoft to gain the lead over Sony. Sony was too far ahead of Microsoft from last generation, and Microsoft has produced too little first-party content thus far. Once those acquired publishers start releasing Xbox Series S/X exclusives I imagine Microsoft will have some epic sales numbers. But that's got nothing to do with Game Pass, backwards compatibility, or emulation.