No.

While hard drive manufacturers use decimal measurements for marketing (where 1TB = 1,000 GB), most operating systems, like Windows and macOS, calculate storage in binary. In the binary system:

• 1 KB = 1,024 bytes
• 1 MB = 1,024 KB
• 1 GB = 1,024 MB
• 1 TB = 1,024 GB

This means when you buy a 1TB hard drive and connect it to your computer, the system will interpret that as 1,000,000,000,000 bytes. Upon conversion into binary values, it results in approximately 931 GB of usable space. This results in the apparent loss in capacity that many users experience.

Also in this case, the actual usable space will be 768GB.

FTA

The original PlayStation 5, colloquially referred to now as the PlayStation 5 Fat, was equipped with 825GB of internal storage, of which approximately 650GB was accessible to the user, depending on system updates and other variables. The shift to the PlayStation 5 Slim introduced numerous enhancements, including an increase to 1TB of storage, providing the user with approximately 850GB of available space (subject to similar factors).

The CFI-2116 revision, also known as "Chassis E," marks the return of the 825GB SSD, which Sony advertises on the new packaging. Consumers are losing close to 200GB, or 24%, of usable, high-speed storage with the latest revision. You could argue that 200GB isn't a lot, and that's true in a way since some AAA titles — specifically, Call of Duty: Black Ops Cold War — are pushing over 300GB of installed size. But under normal circumstances, 200GB should be enough for one or two games.

Seems like Sony has a bunch of 825GB hard drives sitting around to me.