It went to retiring PlayStation Boss, Jim Ryan.
https://www.engadget.com/feast-your-eyes-on-this-ps1-themed-playstation-5-080926381.html
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PS2 was a significantly more iconic look imo, plus they already did that with the ps4. They should have made a PS25
Edit: I would buy that controller if it took AA batteries though. All my Sony controllers had either charge daughterboard die or battery inflate or both.