They also don't seem to have tested the fast world switching within the game, only during scripted segments.
Because you can get consistend streams between platforms. We'll soon enough see videos of people world switching in battles.
The decompression chip is albeit, an important factor. SSD is not specially, it just an MLC SSD from Micron.
First, Insomniac said at the time that the game was not using the full bandwidth, requiring around 3GB/s only.
Second, at the time of release, PS5s SSD was the fastest in the market, at least at consumer prices
Third, its not the SSD being special, it's about the whole IO complex.
These 2 posts point to the same magic. It's not the actual chips (even though being soldered on the PCIeGen4 lane helps a lot) but what they can do with it. on PS5 they have 12 channels and a way to finely control data in transit (the 12 channels are not there for the NVME added SSD, but you need something that pulls 7GB/s to match the 12 channels magic) as well as being able to decompress directy in memory without using CPU or GPU cycles.
So that's the magic: 12 channels and custom hardware decompression.
On another note, regarding these screenshots:
This is what is astounding: a 4090 at max settings in 4K looks like total shit in comparison with a PS5 in Performance RT mode. Honestly, this is BAD!