Um, no, accessing 100GB of data requires accessing 100 GB of data and there's no way to compress anything of any real-world use enough to reduce that to be read in one second from any consumer SSD.
A better analogy is filling a glass of water vs a swimming pool. A high pressure fire hose can fill the pool much faster, but if you want a glass of water, a tap faucet at much lower pressure is the right choice. Raw sequential read is the fire hose: if you want to push as much through from the huge container into another, maximum flow is king. But getting specific, smaller chunks of data from the disk is an entirely different optimization challenge, and that's what the velocity architecture stuff and all that is targeting. My guess is that both consoles will do that well, so PS5 will get the data into main memory faster at startup, game and level loads, etc, but the chances of I/O bottlenecks with these devices is pretty much nil.