The real risk is that we introduce a huge blast radius if one of these machines goes down.
If we're only worried about throughput, and everything works out with queueing, there's no need for gen4 NVMes because the storage has more bandwidth than the network. That doesn't mean gen4 is only hype; if my math is right, you need gen4x16 to have enough bandwidth to run a dual 100G ethernet at line rate, and you could use fewer gen4 storage devices if reducing device count were useful. I think for Netflix, they'd like more storage, so given the storage that fits in their systems, there's no need for gen4 storage; gen4 would probably make sense for their 800Gbps prototype though.
In terms of disk I/O, either in the thread or the slides, drewg123 mentioned only about 10% of requests were served from page cache, leaving 90% served from disk, so that would make worst case look something like 45GB/sec (switching to bytes cause that's how storage throughput is usually measured). From previous discussions and presentations, Netflix doesn't do bulk cache updates during peak times, so they won't have a lot of reads at the same time as a lot of writes.