So I checked, and the one you are talking about for $90 is only USB 3.0, and does half the speed of the new SSD one. The cheaper one is just an HDD, not an SSD, so less fast by default and potentially more sensitive/noisy too.
I think this new one is worth the price then, being an SSD, and USB 3.2 Gen 2 (so 1000MB/s vs 500MB/s), but just need to keep in mind it will still only store PS5 games, but not play them directly.
Also, checking Amazon, the 2TB is $180, so just 2X the price, it's not $220.
