the real interesting thing will be multiplat games. Its simple to imagine stuff like Spiderman 2, God of War 2, etc will be optimized just for PS5 and have no loading screens etc which is awesome.
But what about Call of Duty 2020 or Assassins Creed Valhalla? That will run on PS4, Xbox One S, PC, and PS5/XSEX. Will they optimize for the new SSDs or not? I'm gonna imagine a big nope, since once you put in loading screens and stuff its gonna be weird to remove all that and re-jigger your entire engine and game to depend on never having to load new areas/maps.
I remember I thought around the ps4/xb1 times that most games would be developed on PC and then ported down to ps4/xb1, setting new fixed texture, memory, GPU, etc settings like a custom PC setting. But that has turned out to rarely be the case, for most of the AAA games instead there are two teams, the main team works on the ps4/xb1 edition (the big money maker) and a second team ports the code to PC, either doing a great job (Rockstar) or a shitty job (Mortal Kombat 11). Its still weird to me that most games aren't dev'd on PC and then ported around, although nowadays I think that is maybe becoming a bit more true as PC sales have done really well for most games.