I think it's just marketing. You need speed and a lot of it, but not 5.5 GB/s speed - at least not until you have the compute and capacity to do more.
Seriously, just marketing? Seems to me that SSD was Sony's compromise, extra compute was Microsoft's. Only time will tell which was a wiser decision.
Just because you haven't conceptualised peak SSD usage at 5.5GB/s (or indeed somewhere between that and 9GB/s), doesn't mean it doesn't exist, or is "marketing".
Maybe this PS5 demo does, or does not, show peak usage - we don't know. What we *can* assume is that there *will* be games (likely in this engine too) that *do* make use of the SSD at PS5's peak usage.
Sony have literally banked on it.
I'm not even convinced that a PC with huge RAM makes up the deficit, even one with 100+ GB that'll be between 10-15 secs of SDD usage before it hits a bottleneck.
(This of course assumes that not all data are unique in that 100GB, coz no storage solution can keep up with that)
Imagine trying to load 100+ GB at the beginning of your game, in order to makw up for lack of SSD. That's some insane inefficiency.
PC gamers would be better to wait until 6GB/s+ SSDs are released.