In the case of the PS5 vs XSX the PS5 could perform 10 teraflops worth of computing faster than an XSX since it’s clocked at a higher speed. The XSX would complete 12 teraflops of computer faster than a PS5

That's not how any of this works...

TF is a measure of computation power per second, that does not mean they only perform work in one second chunks. As you already alluded to, they perform their work at clock speed (which is tiny fractions of a second). The produce work in 36 and 52 increment chunks. to produce 10.28 TF, the PS5 will take exactly 1 second, while the XSX will produce 10.28 TF in .8457 seconds (with some nano second adjustment for clock speed, as it wont produce exactly 10.28, but rather more likely 10.283).

as for your car analogy you're assuming traffic vs no traffic. But video games in your analogy are ALL traffic. No GPU pops off individual CUs as a one off, they just don't work that way, or if they did, we'd have NES graphics on modern machines. a Tera Flop is a trillion (not exactly but close enough) flops. a single blip on a GPU is 36 (or 52) flops. These machines are pumping out magnitude to the power of magnitude higher operations. So yes, technically if called upon for a single 36 bit line the PS5 would pop it out faster, but the reality is calls don't ask for 36 flops, they ask for megaflops at minimum. That's all traffic.

Also a faster SSD

As for your SSD... one of your points was correct.. There is potential for higher res textures, but texture detail payoff does cap out as your texture detail exceeds your resolution's ability to display. I wouldn't expect any better graphics out of PS5, what i'd expect out of an SSD is something like no need to cap swing speed in spiderman 2.

The Xbox Series X is certainly the most powerful console, but that doesn’t mean it will have better graphics or higher frame rates in every game.

It will on any multiplat that is equaly optimized for both systems