Yes it is, 400 is too good to be true price for a PS5. Even though you are looking at 2x price, PS5 is notebaly newer than xb1, 2013 vs 2020 release. So not only you are getting several times better and faster hardware, which is very notable during load times and general performance and graphics fidelity, you will get a generally less worn hardware 9 years vs 2 years. So it should last you longer, this is purely from casual play perpsective.

Also make sure 400 for PS5 is not a scam