I think you missed the real point: Textures stored on the SSDs is now byte addressable by the texturing unit on the GPU. When the texturing unit issue a read for texture data, the read can now go directly to the SSD controller, and SSD controller issue NVMe commands to read the data. The texture decompression block sits between the GPU and SSD controller, decompresses the texture at line speed. This way, the GPU can read the texture at the exact detail levels given by the amount of pixels covered by the texture. It gives a texture infinite mips level. The GPU can also place the texture data needed for the current frame in the GPU memory, GPU memory becomes more like a cache for textures. This reduce GPU memory usage. Imagine you want to render a camera flying through a forest. Before you need the texture for the trees and have multiple version of them for far away trees and nearby trees. As the camera flies over, you transition from the low detail texture to the most detailed texture. That is why you see the texture pop in in today's games. Going forward, you just need the most detailed texture, and have the GPU automatically sample the texture according to the pixel needs to be rendered. There will be no stepping in between, it will be continuous. This solves texture pop in at a fundamental level.
Another benefit is reduce CPU involvement. Textures are fundamentally stored on disk, and GPU needs to access that data for rendering. Before we would have the CPU use OS's filesystem storage stack, read a file block, decode the texture in CPU memory, copy the texture to GPU memory using PCI-e, and ask the GPU to render with that data. This method allows the GPU directly read from a SSD, bypassing all of the steps in between. As SSD becomes faster and faster, OS's filesystem is becoming the bottleneck.