I've been playing Cyberpunk on my core Xbox since release...the original Xbox One that launched in 2013...(not the Series X, not the Series S, not even the Xbox One X). Literally just the same unit that I bought in 2013 and have had for 7 years.
Now, I realize that PS4 and Xbox One still have their differences. And it's entirely possible that one could be a bigger disaster than another. But, in my experience, Cyberpunk is nowhere near as badly broken as some of these reports have made it seem. Was it rough on day one? Sure it was. But, there have been several patches since then...and the game has run smoothly every time I've played it since whenever the latest patch was released.
There are glitches. Some of them can stop you from completing a mission. It's a bummer. But, none of them, in my experience, are "game-breaking". If you can't progress because something went wrong, there is almost always a checkpoint to reload and try again. This is actually common in many games, and has not really hindered my enjoyment of Cyberpunk at all. I've definitely played dozens of other games with worse glitches (actual game-breaking glitches).
Does the game crash? Yes and no. I had it crash on me three times. But, again...not since the most recent update. In the first few days, it would hard-crash back to the Xbox menu. It was annoying...but the game always had an autosave to keep me from being too upset. I would simply load it back up and pick up from where I left off. It was inconvenient, but it never went beyond that. And it hasn't done it a single time since the most recent update. I regularly play for 5 hours at a time, and the game hasn't crashed since it has been patched. Your personal mileage might vary...but that is my experience.
Graphically...when it comes to the appearance of Xbox (and I assume PS4 as well)...they really aren't as terrible as people make them out to be. A lot of the textural problems and draw distance problems have also seemingly been a lot better since recent patches were released. They were pretty bad on day one, but I noticed a big improvement after the second patch. At this point...it looks like most other open world games. It isn't the "next gen" experience that many people want it to be, because, well...it isn't a next gen version. I really don't know why people are complaining about the last gen consoles not looking like the 4k future-proofed editions. That was never what you were buying. But...the game looks fine. Really, it does. A few hiccups that you see in similar games like Skyrim, Witcher, GTA, etc. None of these huge open world games are devoid of glitches. So, I don't know why this one gets special treatment in that department.
In conclusion...when you buy a copy of Cyberpunk on either Xbox or PS4, they both come with a free update to the Series X or PS5 version. Hence, what do you have to lose? If you buy the game now and play it on the console you have...at worst, you've spent $50 on a game with inconvenient bugs (it's still a great game, even with those bugs). But, you've also spent $50 on the "proper" version of the game that will be released in the future. Which is another thing...it seems like too many people fail to realize that there is no PS5 and Series X version yet. You can play the Xbox One and PS4 versions on those consoles...but it is an upscaled version of that game. The proper "next gen" version of the game has not released yet. When it does release, you will already own it.
The game is a work in progress. And it is an obvious work in progress. I guess that is where people get all angry about it. It feels like a Beta for the proper version, which hasn't released yet. Now...if they had announced it as a beta, they probably could have still charged full price, and people would have praised it as "the start of something great". But a lot of people don't observe the cycle the same way I do. In 2020, I just expect every game to be a work in progress...because, that is where we are at with the current state of software development. You see it in the OS on your computer, the apps on your phone, your video games...everything. Everything is a work in progress. And I kinda feel like these people who complain about "incomplete" projects fail to understand the cycle that things operate in. Ideally the game would have been cleaner than it was at release. But, this is the new normal. The alternative is that you don't get these big projects, because nobody wants to take the risk. So...things really aren't so bad. It's a great game that needs a coat of paint and some adjustments under the hood. But, it is not "broken" or 4/10, or any of the other ludicrous things that are being said about it. That's just my opinion. It's a solid 7/10 game that is a lot of fun when it gets things right...and it could easily be a 9/10 or 10/10 game if they manage to fix the things that are busted with it.
Also...if you want to witness firsthand how the game really is...then simply look for people streaming it on twitch or whatever. You'll easily see exactly what they see, and it will be live, so it should be the latest update and no way to "trick" people into seeing something other than the truth. Don't watch youtube videos of people cherrypicking the bad parts for views. All of these online videos (and even articles) are throwing gas on the fire right now...because, they want the clicks. Controversy creates cash. Showing people honest gameplay doesn't attract views. Find someone streaming on a last gen system and watch them for as long as it takes to feel that the game is stable. Because, I assure you...even with the problems that the game does have, there are plenty that are being blown out of proportion.
Sorry for the long read...but, I'm trying to cover everything. Because, I actually feel somewhat passionate about this game being treated the way it deserves rather than the current gang mentality of "trash this thing because we can".