I haven't been able to find any real technical details about what DirectStorage really is, but my expectations are that it will consist of:
1. An asynchronous IO API allowing for low-overhead submission of IO requests from the application to the kernel, including batch submissions and reaping of completion events.
2. Some provision for transparent compression offload, either to the GPU or to a CPU-based fallback
3. Optional support for peer-to-peer DMA transfers of data from SSD to the GPU's VRAM
Linux is already the gold standard for (1) with the relatively recent io_uring API, and has support for (3) to some extent (P2P DMA has been a fairly obscure feature until recently).
There are still some pretty big unanswered questions about DirectStorage. How well will it reduce the IO overhead that currently allows antivirus and other programs to hook into the IO stack? Will it be compatible with non-Microsoft NVMe drivers, including Intel's RST drivers that are commonly used for their software RAID? Microsoft doesn't seem to want to make that kind of information public this year.