What John is saying sounds pretty right to me! I don't want to down play GPU power, but I promise everybody that you will be absolutely blown away by visuals on both consoles. However, the SSDs are the big difference when coming into this gen. We're not talking about "load times" in the classic sense. That's an antiquated way of thinking about data coming from your hard drive. For the last 10+ years we've been streaming worlds on the fly. The problem is that our assets are absolutely huge now, as are our draw distances, and our hard drives can't keep up. It means that as you move through the world we're trying to detect and even predict what assets need loading. Tons of constraints get put into place due to this streaming speed.
An ultra fast drive like the one in PS5 means you could be load in the highest level LOD asset for your models way further than you could before and make worlds any way you want without worry of it streaming in fast enough. The PS5 drive is so fast I imagine you could load up entire neighborhoods in a city with all of their maps at super high resolution in a blink of an eye. It's exciting. People don't realize that this will also affect visuals in a big way. If we can stream in bigger worlds and stream in the highest detail texture maps available, it will just look so much better.
I think the Xbox drive is also good! The PS5 drive is just "dream level" architecture though.
