I own a 2018 M550 and test drove the 2019 330 when it was first released. In my opinion, there is a small quality difference, but not enough to justify the price differences between a 3 series vs 5 series. It’s definitely not as big of a difference vs the 4 series. I also prefer better tech and the new 3 series has better drivers assistance feature and newer tech not present in the 5 series.
If I had to pick right now, I would get the M340 or wait for the M3 if it didn’t look as ridiculous as some of the leaked/spy photos show.
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