It's yet to be seen the level of drops you'd get if the code running on the Pi is modified to ignore all video stream packets (which, of course, means no decoding either). The Wifi radio will still be busy reading the packets which is a concern, which makes direct wired ethernet connection appealing, but, that means it needs to be connected to your router directly somehow. This is why a solution like this could be problematic for a lot of people. In the ideal world, you connect your XIM to the Pi and Pi to a USB port on your PS5 and it just works. But, the means a wireless connection from the Pi to your router (which you said you experienced drops).