a multiplatform engine escalates with hardware. Hardware has multiple parts, cpu,gpu,ram,ssd and others. I think it's safe to assume that if epic has worked with Sony, which would make sense since Cerny has been approaching devs for a while, and that would include middleware providers, the engine will also adapt if needed to use the ssd benefits on ps5.
If this applies to this demo, we don't really know, this later article seems to suggest that ssd is not limiting the performance (however some minimal speed seems to be needed, 3.5GB/s maybe?, that is above uncompressed performance on XsX ssd for example.
I'm sure high end PC's will get there sooner than later, of maybe some already are.
But dismissing a key design objective on one of the next gen consoles arguing that will only be useful for loading times feels a little... well, underestimating it at the very least. Which, when compared to the constant overestimating of the closest difference in raw gpu power in a long time is also, interesting to say the least.