Though this thread is old, but the topic will be very relevant for the following couples of months.
PS5 is still a good full year away from launch.
If you don't own a PS4, I think this might be a good time to get one.
(PS4 deals are cheaper, PS5 not too close)
Look for a great deal to buy this Black Friday or holidays sale, wait for FF7 Remake next year,
play those great playstation exclusive games of the past years, wait for FF7 Remake PartII 2 years later,
then upgrade to PS5 slim/PRO.
Just lucky enough to got myself the Black Friday $389 PS4 slim bundle deal!(mostly sold out)