Of course there's going to be a price to pay in terms of performance, but I don't understand why you would think of it in terms of loss, when it's a pure gain. The alternatives are CPU decompression which affects performance to a larger degree, or keeping the loading times, when the FPS is effectively zero. A third option would be a dedicated logic block, but even that has a hidden cost.
I never said it's going to be a pure loss, just that the technology's reception hinges on how big, small or negligible the performance hit is for implementing it. I mean, it's not like we haven't seen this type of thing before with GPU accelerated PhysX and that turned out to be a failure for several reasons. If the performance hit is significant with GPU decompression, ie 10% or more, then a lot of gamers won't embrace it.
Core count on CPUs has continued to increase to the point where the vast majority of games engines can't fully utilize 8 core CPUs (let alone 16 cores or more), while GPU workload has increased with the addition of higher resolution monitors, faster refresh rates, advanced graphical effects like ray tracing that burdens the GPU with heavier workloads than ever before. Ideally, if it could be done asynchronously it would probably work without much of a performance hit but then developers are going to have to balance it properly.
Perhaps I am being overly pessimistic because I've been a PC gamer for a long time and I had a front row seat during the GPU accelerated physics era, which was hailed as the next big thing in gaming. I actually used and enjoyed GPU PhysX for a few years back in the day with dedicated GPU PhysX cards, but the technology never saw wide adoption primarily due to being proprietary. Nowadays, all the advanced physics effects that used to be possible only with hardware acceleration can now be done via software on the CPU with even higher performance and efficiency due to how much more powerful CPUs have become.
I'm more excited about Direct Storage than I am about Ray Tracing (for the immediate future), it brings a more palpable gain to game immersion.
I don't see how Direct Storage is going to increase game immersion. Games already load so fast already on PC with a fast multicore CPU and good NVMe drive, and streaming/asset decompression technology has improved by leaps and bounds over the years with faster, higher core count CPUs, faster RAM, larger frame buffers and faster storage.
I remember the frenzy the Playstation fanboys were in when Epic showcased the Unreal Engine 5 PS5 demo and a lot of them were saying how that wouldn't be possible on PC or the XSX as they lacked the super fast, high decompression rate hardware blocs the PS5 uses. But the demo ran even better on comparable PC hardware without the PS5's hardware decompression.
And heck, if Star Citizen with its amazingly huge environments can run well without GPU decompression, then I struggle to think just how much more useful GPU decompression could be.