It’s ok. It really, really depends on how good your WiFi is. If you can hardwire your PS5 to your access point, that helps.

My wife says if I’m playing it in bed while she’s on her phone, her phone’s WiFi is crap.

I set games to performance graphics over ray tracing.

But when it works, it’s great. I’m sensitive to input lag when I’m looking for it, and it works great.