Had both PS5 / Series X and ended up selling Series X for the reasons you said - lack of games. Although two main things would make me get one again in the future.

1. to be fair things are improving in the game department. Redfall and more importantly Starfield are being released this year. Games that actually look good although they need to keep the momentum going. Didn’t hate Gears 5, gets more stick than it deserved although not amazing either. Big Halo fan but they dropped the ball massively with Infinite. Season 3 maps look a step in the right direction. The campaign was lacking in scope both for the story and gameplay. Although I won’t buy another console until they’ve actually released some games and the reviews are good - not promises of future releases.

2. I’ve got a PS5 disc. Feel that Series S would be a disappointment on OLED. Series X Digital would be perfect given everything is mostly on game pass. Around the £350 mark and would be a no brainier buy for me.