Because as noted, you dont use 5GB per frame. There's your answer.
176 GB/s divided by 60 FPS=2.9 GB/s.
Guess PS4 will never have any 60 FPS games then...
Also, technically you can get up to 170 GB/s, right? The ESRAM is pretty important. This gen PS3 had two ~25 GB/s busses to the GPU, one to XDR one to GDDR, ~50GB/s. 360 only had one ~20 GB/s bus, so less than half the bandwidth Yet it still held up fine because of the EDRAM. The ESRAM can take BW load off the main BW, just as EDRAM took BW load off the main bus for 360. All the load in a unified no EDRAM architecture must fall on the main bus.
Anyways, I dont know how much is usable on Durango but I do know devs wanted some of the OS reserves back, so it IS more than 5GB. And RAM is an order of magnitude faster than a hard drive, so it is
always useful, no exceptions. If worst case you can do absolutely nothing else with it (unlikely), you can use it as a cache to reduce loading.
Also just to quibble, 68/30=2.26, not 2.0