I do suspect that this is a big part of why the PS5 doesn't include a browser, despite one being available on the PS4. It's a shame really, would love to be able to browse the web from my PS5.
It actually leads to frustration as an ISP employee; we get reports of end user devices getting slow speeds and the built-in PSN speedtests can often give us bad results (eg, a customer might be rated for 100x100 and the PSN test yields 20x5) -- running a browser-based speedtest we might be getting full speed to the device indicating a PSN issue. Removing the browser takes that troubleshooting option away from us.
Switching to Ethernet bypasses this issue but I’m unaware if this was ever fixed.