Michael Quesada an other people like him have talked about how good the S and the discless PS5 are for our region, because of how cheap they are compared to the X/disc version, making console gaming more accessible, and on one hand I can see why a lower upfront cost would be enticing, but on the other hand, specially for this region, a digital only version doesn't make any sense in the long term IMO, digital games rarely go down in price, Sony now charges a 16% tax on every digital sale (MS "absorbed" this tax), and with games going for $70 now, it's not worth it, I don't know about other countries, but the peso-dollar conversion hurts a lot.
Physical games go down in price more often, stores have sales pretty much every week, you can sell games you've beaten or don't care about anymore, you can borrow games from friends or relatives, etc. So yeah, a disc console is more expensive at first, but I feel the long term savings and the possibility to sell and share games more than make up for it. Unless you're only interested in a couple of games, then it might make sense(?)