I prefer to play new games on a new console, but the ability to play older titles are still nice. Of the new consoles, the Xbox Series X “wins”, since it’s backwards compatible with all previous Xbox games AND apparently also older Playstation games.

Youtuber Modern Vintage Gamer has got PS2 games rolling on his Xbox Series S and you can see how it all works in the video below. To make a long story short, with a little tweaking in the developer menu, you can get UWP (Universal Windows Platform) apps running on the new console and thus run alternative software, such as the emulator RetroArch.

https://www.pushsquare.com/news/2020/11/xbox_series_xs_runs_ps2_games_better_than_ps5