It does seem like it should be faster, but this isn't a vanilla export/import. He is going from unstructured to (I assume) structured data. So he needs to deduplicate and possibly do other operations on the data before importing
The key is keeping the pipe full, requesting a piece of data based on what's in the pipe will mean that it's going to be hard to keep the pipe full. You want to request the data long before you're ever going to need it.
If your SQL queries are done in such a way that they don't depend on data in the pipe they'll work fast, if they aren't you'll be not much better off than whatever was currently in place.
There are only 50 million rows... this sounds like a 5 minute query.
just wondering what the tradeoffs were in OP's eyes.