It would appear all is well when it comes to recent Japanese games. We've had a great run of big new releases from Eastern teams lately and, if Steam player numbers are anything to go by, it seems they're all making a decent splash right now.
Last weekend saw big concurrent player counts for the likes of Persona 3 Reload, Like a Dragon: Infinite Wealth, and Granblue Fantasy: Relink — the latter of which quickly became one of the most played JRPGs on Steam. This is to say nothing of Palworld — another Japanese game, albeit one currently not on PS5 — which has been a barnstorming success. At the time of writing, these games currently have tens or hundreds of thousands of people playing. It's a stark contrast to another recent launch, Suicide Squad: Kill the Justice League, which appears to have flopped going by the same metrics.
Obviously this data doesn't concern PlayStation directly, but it's indicative of general trends at least. We imagine player counts on PS5 and PS4 will broadly echo what we're seeing on Steam's public data. What we can take away from this is that there's plenty of appetite for these large scale, single-player monsters coming out of Japan. Another one, Final Fantasy VII Rebirth, is on the brink of release, and it'll no doubt be huge, too.