Not sure if you are talking about Netflix streaming rates, but to beat UHD Blu-Ray at 4K content you need to go in the 80 Mbps per second and anyway that is a highly compressed video stream while here we are talking about the display bandwidth you need to render those pixels on the actual display hence why the HDMI specs are so astronomical.
The PSVR headset is not send a highly compressed stream that needs powerful SoC decoding it on the headset. It is being treated more similar to a smart display than a Blu-Ray or Netflix reader: you get the raw frames and the headset can choose how to display them, interpolate them, etc… the video setup adds some latency too, but sure it might be something they overcome… at a cost
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