That makes perfect sense because compared to consoles PCs have always had access to multiple times the RAM, so when 2nd gen cheap streaming storage reached consoles it had a much bigger impact on consoles than on PC because it helped data arrive just in time to that small memory to leverage the processing of the consoles better.
Despite the advent of clipmaps, it wasn't really until Carmack's second iteration of megatextures in Rage - underpinned by clipmap techniques - that the PC joined the streaming party.
The enthusiasm for the IO complex, Velocity Architecture and direct storage in the console space isn't about faster loading times as the objective. The whole end game is to have REYES streaming and do away with loading times completely. So at some point when REYES becomes the new standard for graphics engines on a console or consoles(probably 2027 at the latest), the HDD and SATA SSD, and possibly even the non RTX IO accelerated nvme SSD might not be enough for a 16GB RAM PC with a 12GB VRAM to stream the game, or stream as smoothly as the XsX/PS5,