Sony has announced a PlayStation Plus rebrand to bring it in line with Microsoft's Xbox Game Pass offering. Starting in June, PlayStation Plus will split into Essential, Extra and Premium tiers that cost up to US$119.99 annually. There will also be a Deluxe package for markets that do not support cloud streaming yet.
https://www.notebookcheck.net/Sony-PlayStation-Plus-rebranded-as-an-Xbox-Game-Pass-competitor-with-cloud-gaming-and-a-700-strong-game-library.610686.0.html
They should allow gamers to play purchased PS5 game through cloud without having Ps5 for some tiers.