This generation of consoles is actually kind of moving more slowly than we've seen other generations move into next-gen exclusives, so last-gen consoles can still play most of the games available on either system, just not some of the newest titles and a few from launch. It depends on what newer games you want to play - also, most xbox games and some PS5 games are also available via PC.

Newer titles on the horizon are just now starting to lean into exclusivity. Still, there's nothing wrong with holding onto an older Xbox One for a while longer.

Yes, because if you want to play Xbox series x/s exclusive games then you do so on your xbox 1 through cloud gaming but you need good wifi for that. Thats what I've done and love it