GCE local SSD was the fastest thing around when first released in 2014, but hasn't improved and has since fallen behind. GCE local SSD 4k read IOPs max out at around 200k/volume and 800k/instance w/4 volumes. I haven't measured c5 local nvme yet, but on i3, local nvme volumes run at 100-400k/volume and up to 3.3 million IOPs on the largest instance type (i3.16xl).