What's up with the SSD? Is the PS5 special?
There are two questions here: does
the Nanite technology require PS5-tier SSD speeds?, and does
this demo require PS5-tier SSD speeds?
The first question is simple: no. As shown above, Nanite is first and foremost a way of storing and rendering geometry. Despite first appearances, this is an especially data-efficient way of storing geometric detail, and should
always look more detailed than a normal-map approach at similar file sizes.
For the second question, you should understand how much data this demo had. The demo had “hundreds of billions” of ‘virtual triangles’, so even if after compression they are spending only a couple of bytes per triangle, and some geometry was reused, that's still way in excess of a hundred gigabytes of data, being scanned over in under ten minutes of gameplay.
This is so much data that despite the PS5's insane SSD speed, I actually think there was at least one disguised loading screen,
most visibly at 7:20-7:40, where the outside is whited out while I assume that portion of the level was loaded in.
An XBox Series X's SSD would have taken twice as long to load this, and likely otherwise been slightly less timely with loading in geometric detail.