It doesn't; these rates are given as peak numbers.
No, it's a rate. 'One second' doesn't come into it. That's a completely arbitrary time slice that makes for a nice unit of measurement; we could measure it in kilonibbles per twelve microseconds* instead and then you wouldn't be thinking about what happens over a whole second. You can measure BW over one second or one millisecond or one microsecond. The specification for the bus in GB/s is
defined as a rate, gigabytes divided by seconds.
If someone is tasked with filling two buckets with water twenty metres apart, and has a hose that can deliver one litre per second, and they spend their timing running back and forth between the buckets filling each for half a second before running to the next one, how would you describe the rate of water from the hose? It's spending most of its time splashing water everywhere but the buckets. What's the peak rate either of the buckets can be filled? 1 litre a second! That's the flow the hose can provide and the specifications of the hose. You may have an incredibly inefficient
system where the attained performance is far below that peak, but the specification is one litre per second. If after a minute both buckets have 5 litres in them, the
efficiency of the system can be described as ten litres out of a potential 60 litres, so only about 17% efficient, but that's not because of a limitation of the hose.
* Probably what the US would be using Imperial Measurements had found their way to modern science.