This is my concept of what happens when you turn on the ps5. Of course, none of this will be correct in the actual ps5, its just what i think should happen when you turn the ps5 on.
The music in the mid-part of the startup, after the wave of colors, is the song from the video on youtube called "Xbox Motion Brand Identity" The bling at the end is also from the video "Xbox Motion Brand Identity" The song after all that is the welcome/log in music on the ps4. The noise when the wave of colors is moving is the Wii startup sound.