the devs also know it's not just about pure power.
The thing which makes this interesting is the lightening fast data transfer rates of the PS5 and the trickery they have implemented in the data controllers to achieve it, and what it all means in actual performance.
.
If fast storage speeds is all you need, then why bother putting an 8c/16t CPU in there with a FAST GPU (even at 9-10TF, is still
very fast compared to PS4/PRO), why not just using the old stuff?
That 8-10GB of data/s still needs to be simulated and rendered in 16.6ms or less at 4k, stuff which is not up to the storage medium to do. Is not like going from an standard sata3 SSD to an m.2 SSD gives you better frame rates than going from a 2080 to a 2080ti!
I think everyone gets it that both consoles are quite powerful, moreso than some had expected, and that will help driver forward the games more than previous gen has done (hopefully), but while that fast storage is good, the question would be, in how many games that matters? And would you prefer 4k60fps with 2-3 seconds of loading time or 4k30fps (or 60 with, but upsampled from a lower res), with 1-2seconds of loading time. Also, depending per game, you may encounter that loading time so little, that it won't even matter compared to the actual 99.9% of time you are
playing.