Just because the majority of people choose to not use old tech doesn't make it newer. What Sony has here is most likely just a small NVME SSD cache via PCIe. Something that has existed on gaming PCs and laptops via m2 SSDs for a while. Except that proper gaming PCs don't just have a cache but have actually all data on SSD.
I just find it a little bit insulting that they have punished players with long loading times for 2 generations even though appropriate tech was available and now try to sell it as something amazing. They want to say "Look at this cool new tech!", but what they're really saying is "Look, this old tech is finally cheap enough for us!"
Blame the game developer who don't want to push the tech to PC games. PC have been used SSD but none of the games used SSD benevit let alone Nvme . What i have been playing is more of slightly faster loading times on PC. I have not encounter any games that totally rid loading screen except for open world games which is also still have a loading moment. It's an old tech but it's new for gamer and yeah even for PC gamer.