We should absolutely have to be doing this in 2020, unless you just don't want faster load times.
I'm okay with this. Load times have never bothered me and the best thing I ever did with my PS4 was buy a 4TB external hard drive to never worry about storage space again.
But it's not just "load" times - if it was just traditional start of game / start of level load times they'd probably allow it.
But these fast drives are also going to be used for streaming assets - i.e. loading geometry, textures, sounds etc on the fly as you run around a level or an open world. It's how these machines are planning to get around the relative lack of additional memory over the previous generation - they can't really have more data in memory at the start of a level, but they can load it super quickly on the fly as it's needed.
A slow drive would just completely break games that used those techniques (which is probably going to end up being a lot of games as devs strive to get the most out of the new machines).
Edit - the PS5 not allowing external storage of PS5 games is utter crap though :-(
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