Here's an example of the constant one sided rollback: https://www.youtube.com/watch?v=aSB_JlJK_Ks
and an example of how players were aware that mashing caused frequent rollbacks: https://youtu.be/_jpg-ZiE70c?t=105
Eventually PC players learned that they could "fix" this by alt-tabbing out of the game, taking away dedicated GPU processing so they could be the peer that was falling behind.
As far as overestimating the base model PS4, I've shipped rollback multiplayer games that support 32 players that run on Android Web Browsers. I would love to see a frame profiler of SFV. I have years of experience optimizing multiplayer games to run on far worse platforms than the PS4. 16ms is a lot of time.
I bet I could make SFV's simulation run in less than a millisecond on an Android phone from Walmart. It couldn't render on that device, but it could run the raw simulation.