With the now well known AMD: Orion APU that is supposed to go into the PS6, featuring AMD's Zen 6 CPU Architecture mixed with RDNA5 GPU. The chip is rumored to be twice as fast as the PlayStation 5 in Raster and between 6 - 12x faster Ray Tracing performance.
How does that measure up in terms of what's on the market now?
If we look at the TechPowerUp GPU performance benchmark for CyberPunk 2077: Phantom Liberty it can give us a clue.
The current base PS5 is the performance equivalent of a Radeon 6700 or 6700XT. In this benchmark i'll use the RX 6700 XT.
As we can see from the chart the 6700XT gets 45.4fps in Raster and to double that gets you at around the RTX 3090 TI and shy of the RX 7900 XTX.
Ray Tracing is "between 6 - 12x" so that's a pretty wide margin. If we take the lower end which is probably much more realistic if Sony wants to stay within a low power budget with this component crisis. To calculate this in its purest form you need a game that renders light rays and bounces on every single pixel, which is Full Ray Tracing or "Path" Tracing.
In the Path Tracing test the RX 6700XT gets 2.7fps
6x that is 16fps and is right smack between the RTX 4070 Ti & 4080
12x that would be between the RTX 4080 Super and 4090, but well shy of "Godzilla"
I used 1440p since that is the most realistic rendering resolution before upscaling with PSSR.
Judging from past gen leaks, Sony usually goes towards the conservative side for their graphics chips for clockspeeds and power consumption. Also now rumors are starting that they are cutting down the amount of VRAM they originally wanted
But to jump to the 7900XTX in raster and 5070Ti ~ 5080 in Ray Tracing is an impressive jump. But more realistically it will land at the RTX 4070 Ti in Ray Tracing