Looks like the PS5 speed test is more consistent then the test built into previous PlayStations. I ran it a few times and while it never maxed out the download speed on my M350 connection it did consistently show the same speeds within a few Mbps. It does appear to max out the upload speed which the PS4 test never did.
Test takes longer than it does on previous models so is clearly using more data to test, which is bound to give more accurate results and it mentions on one screen using 512Mb of data to test.
The speed I'm seeing games and patches download at is about the same as the test results, maybe a little quicker.
No web browser on PS5 to allow tests to non Sony servers to see if Sony are the bottleneck, as I suspect they are. I think Sony are still throttling speeds due to Covid, but I'm optimistic that PS5 downloads in the future will be faster than on the PS4.
So it is an improvement, but still not an accurate way to measure the full speed of your VM connection.
My setup: VM TV box, M350 Fibre broadband with Hub 3 in modem mode connected to a Netgear R7000 router. Telewest/VM user since 2001.
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