Sort of agree. I just purchased a UHS-1 microSD card, UHS-I U3 certified. And the advertisement only claims up to 100 MB/s speed, which is terrible in comparison to the SSDs you mention.
But then, it cost 60€ for 512 GB, and that's way more price effective for most. At least on the Switch, loading times are not that noticeable imo.
Raw speed really isn't a major factor in loading times, faster SSDs have almost no impact, almost all of the advantage is gained from better random read preformance
Looking forward, that may change. The two new consoles have shipped a pipeline that allows the GPU to read directly from storage, and the same pipeline will be shipping to Windows 11. An SD card won't be able to run games that are designed around that quick pipeline, even if they have comparably good random seek times.
But then, it cost 60€ for 512 GB, and that's way more price effective for most. At least on the Switch, loading times are not that noticeable imo.