For $700 they could at least throw in a 4k Blu-ray player.
Then again, I ponied up extra for the disc version of the original ps5 for that exact reason, only to find out the media player software is a giant piece of garbage that was clearly given no effort. So I can’t say I’m too surprised.
Seconding Plex / Plexamp if the use case involves streaming remotely. Probably the easiest to get up and running for remote access.
I’m not sure about the capabilities of hosting on a Pi, but it should be straightforward to run a couple different apps in parallel to test and compare features (I’m currently doing exactly that with Plex and Jellyfin)