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Tldr: this one is officially licensed for PS5. I spent a while looking into this, because I wanted to know the same thing. It seems the specs are identical as far as I can tell from Seagate's spec sheets. The NVMe vs M.2 naming is just semantics, they are identical interfaces. The only difference seems to be that this one is "Officially licensed for PS5" whereas the older model is not. My guess is they wanted to compete with Western Digital's officially licensed ssd, and so released this version. 1001 model (officially licensed) https://www.seagate.com/products/gaming-drives/playstation-gaming/game-drive-ps5-nvme-ssd/ 4001 model (PS5 ready) https://www.seagate.com/products/gaming-drives/playstation-gaming/game-drive-m2-ssd-for-ps5/
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