If your friends are on xbox, get the xbox. Then you can do like I did and pick up a ps4 pro for like $200 and buy all the exclusives second hand on fb marketplace or equivalent.

I have a collection of like 11 PS exclusives and they play really nice.

All games are still on PS4 and the PS4 pro is like the Xbox One X. You dont need the ps5 at $700 to play the ps exclusives