If they have friends on a certain platform, get that so they can play most games with them. (some dont have crossplay or are exclusive) If not, I would recommend ps5 due to exclusives such as sackboy (littlebigplanet) ratchet and clank, and spider man. One of the better deals currently is a bundle that contains spider man 2.

A ps5 has exclusives that would be great for them as they get older such as god of war.

If you want them playing older games, then I would recommend the xbox with its backwards compatibility. A large majority of the xbox 360 games and original xbox games will work on a current generation xbox.

Or you could wait for the KFConsole /j

I have always been interested in retro gaming, although, where I live it’s pretty hard to acquire consoles and games. I have a stigma around emulation, it just doesn’t feel authentic. If you count PS2 & OG xbox era, then I do enjoy retro gaming.