Even with the cache, the cold query latency lower-bound to S3 is subject to ~50ms roundtrips [0]. To build a performant system, you have to tightly control roundtrips. S3 Express changes that equation dramatically, as S3 Express approaches HDD random read speeds (single-digit ms), so we can build production systems that don't need an SSD cache—just the zero-copy, deserialized in-memory cache.
Many systems will probably continue to have an SSD cache (~100 us random reads), but now MVPs can be built without it, and cold query latency goes down dramatically. That's a big deal
We're currently building a vector database on top of object storage, so this is extremely timely for us... I hope GCS ships this ASAP. [1]
[0]: https://github.com/sirupsen/napkin-math [1]: https://turbopuffer.com/