The most expensive PSN option was £83.99 a year last time I got it, for the full Game Pass type deal. I’ve bought a grand total of two games since I got my PS5 a few years ago (Baldur’s Gate 3 and Talos Principle 2, and neither are even available as a physical disc making my disc drive in the console pretty pointless), and I play the damn thing just about every day.
It’s completely optional in any case, I very rarely even play multiplayer games. The price you’re hoping to beat is £389.
I can get an equivalent GPU (3060 12GB is about as close as you can get if you want to avoid lack of VRAM stutter) for about £270, which isn’t leaving a lot for the rest of the PC. There may well be regions where the PS5 is more expensive than a PC, but the UK ain’t one of them.
There are many strengths of PC gaming, like being able to buy extra hardware, modding, many digital stores, piracy, etc, but competing with consoles in the budget space is not where they shine.