While some games are not taking full advantage, nothing using the dedicated decompression HW I find hard to believe as basic use should require little to no effort from devs (unless tooling on MS is worse than we think).
I hear you, but you have to keep in mind that many of the titles that have been released up to this stage, and that are still to be released, have all been in development using whatever existing single threaded CPU decompression solutions they've been using. Sometimes devs may decide it's a whole lot simpler to stay with what they have rather than changing any of the code and using something else. Even if relatively easy to do, there may ultimately not be any point for cross-gen games or for games so far into development already. Loading by default is automatically going to be significantly better than last gen just by doing the bare minimum because of the much stronger CPUs, the fast SSDs and by using the next gen storage API in any capacity. A perfect example using Cyberpunk on PS5.
Same console, just a patch where the game is now a native PS5 application better using the hardware. A lot of studios are going to be absolutely fine with just this improvement. This is likely still using CPU decompression. PS5 and Xbox, I'm sure, can load this MUCH faster later in gen.
Another aspect that may come into play is studios may decide they much rather wait for their next title that's further along to take much better advantage of DirectStorage on their next game by properly reorganizing their data to really take advantage of the ability to batch all their requests and then work out the most optimal way of spreading that out across all the NVMe queues available to deliver the best possible performance.
Take Forspoken, for example, those super fast loads they were doing was with all CPU decompression, but they are taking the time to far better optimize for Direct Storage. In fact, even without DirectStorage their load times are just extremely fast due to the amount of work they put in to improve load time in that game. They also clearly mention having some tricks where the game already begins loading from the title screens in order to make the game ready even faster. So Forspoken begins loading literally before you even think it's in a position to start the process.
SFS supposedly still showing little to no use 2+ years (from MS's own devs too) in is also not really good if it were true as it would make the point of those that did not use GPU area to implement it even stronger. By the time it would be a big differentiator you have very very mature techniques that may minimise them impact and you have next generation consoles not far around the corner (or we could say that it was overhyped instead of the greatest thing ever that 2+ years after launch, so 3 years or more after internal devs were exposed to it, nobody is still using).
Not many of Microsoft's existing first party studios have actually released their next gen only games yet. Much of what's already been released already:
Halo Infinite
Psychonauts 2
Forza Horizon 5
Flight Simulator
Gears Tactics (a coalition/splash damage collab)
were all fairly far into development, probably well past the stage where they could entertain a change as big as Sampler Feedback. Sampler Feedback Streaming is something which needs to be properly implemented into the game engine. it's actually a much bigger undertaking than simply using DirectStorage. Even Scorn that's releasing soon has already confirmed Sampler Feedback Streaming isn't in their game. Nothing should be all that surprising that it's more likely to be year 3-4 and beyond titles that really take advantage of this stuff. I'm pretty sure things like DirectStorage and Sampler Feedback Streaming are another reason Microsoft has been buying studios and popular IP. They want to accelerate the adoption across not just Xbox but PC.
So it's way too soon to claim anything has been overhyped when most of the truly next
The best point is that if you were trying to make an argument on how minimum specs hold stronger devices back (in this case it is partially because these engines are still cross generation ones built for older devices and scaled) and how cross generation is not great for actual users who jumped on the new HW (and overall slowing down the console transition just makes things worse for everyone)… well your post succeeds at doing that

.
It's always been a fact that it would be a while before we truly see what these consoles can do with their next-gen IO architectures as more games with engines are fully built around them. What we are seeing right now is mostly games that are still built on previous gen capabilities and thinking, just with higher quality graphics, high resolution textures, higher rendering resolutions, 60fps etc. Hell, we still haven't fully stepped away from last gen console CPUs as the baseline yet. There is a crap ton more left in the CPUs on PS5 and Series X.