No, it's not. As I said, it's gotten a lot better, but the underlying issue is still there. I'm not just pulling that out of my ass, either, this is personal and professional experience. It's one thing to put one SSD into a PC, maybe run some Steam games off of it, whatever. It's quite another to run an entire server farm on them, and that's when they start dropping like flies.That's a myth.
I wouldn't go just randomly throwing a SSD into any computer system (console, PC, or server) without first knowing how it's going to be used. There are certain uses that they are not suited for. They work great as OS drives. Not so great for data drives. Which category does the PS4 drive fall under? We don't know.
If all you want is speed, regardless of any other factors, then knock yourself out. A quick look at Newegg shows me a 1TB SSD for PS4 will run you about six hundred bucks. You can pick up a 1TB HDD for less than a hundred. Even if they were ten times more reliable than a HDD, it's just not worth it at that cost.