If you’re in the US and buy a PlayStation 5 console between now and October 20, 2023, you will be entitled to a free PS5 digital game of your choosing. This brand-new deal is eligible for any who will buy or have bought the console since September 20. This could be a great offer for anyone who is picking up a PS5 in the near future (or before Spider-Man 2 exclusively launches on the console), and well worth keeping an eye on.
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If this is tied to your PSN there is a good chance it won’t work even if you register a new console. They’ll see you already had a PS5.
$70 sounds like a lot but probably not worth the potential headache.