Of course they do, but let’s unpack that.
When people buy a new car who already have one, they generally do it because either 1. they think it will bring some material benefit over their old car, or 2. they want a new car simply for vanity reasons.
Looking at the PS5 Pro, there will absolutely be people who think “I want to upgrade to the Pro just for bragging rights” but I’m pretty sure the majority of consumers wil simply think “This doesn’t play any games my PS5 can’t already” and pass on it.