Based on the State of Decay loading demo figures that someone outlined above, I think the XSX SSD sounds potentially very heavily bottlenecked and won't/can't reach those theoretical limits at all.
this is a bad example because that game was not in any way optimised to run on SSD.
the way better example is the demos where they switch between games.
if you look at those demos you will see that one game gets paused, its current state is saved onto the SSD, and State of Decay gets loaded up from the savestate on the SSD.
this whole saving and loading of 2 games takes 5 seconds.
this demo showcases that, when the Series X loads data in a format that's optimised for it (aka. these save states and optimised games) it loads extremely fast.
you can calculate how fast each game will load pretty easily.
the SSD can load 2.4GB a second uncompressed data and 4.8GB a second of compressed data.
the Series X also has 16GB of RAM just like the PS5, this the maximum amount of data that can ever be loaded up at once.
filling 16GB with a speed of 2.4GB a second takes roughly 7 seconds.
so worst case scenario you will have about 7 seconds of load times, if the data is fully uncompressed.
filling it with 4.8GB a second takes roughly 3.5 seconds, so well optimised games will load in 3.5 seconds or faster.
these load times, 7sec and 3.5sec, are only this high if the game literally has to load 16GB of data to display the first frame after the load screen.
with intelligent streaming of data this will rarely actually be the case. that's why we have varying load times, not every game needs to load as much data instantly as this worst case scenario.
now we have the next thing, PC. more than 90% of all games on these systems will be multiplatform. these games will be made for PC, Xbox and PS5. optimisations for such a game to the level in which the PS5 can actually have a significant advantage will be rare and will most likely take a long time to surface, especially since for the next few years PC games will still need to support HDDs to reach as many people as possible.
so in short, for 90% of all games what we will see is the Xbox loading a level in 3.5/7 seconds and the PS5 loading it in 1.7/3.5 seconds in worst case scenarios, in most games both will load faster than this