Upgrading your storage for the new consoles isn't cheap as they solely rely on SSD technology. While Xbox Series X has 802 available storage compared to 667GB for PlayStation 5, the latter uses a standard solution (M.2 SSD) which means you can expand it and select amongst plenty of options, which increases the chances of you getting the right size for a great price. Xbox Series S/X uses a proprietary format instead, which in all fairness is more user friendly, but also means considerably higher prices and fewer options.

https://www.gamereactor.eu/cheaper-storage-option-for-xbox-series-s-x-now-available-1273653/

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