“Is this also an SSD? Wondering if it will also improve load times, or if it's just external storage.”
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No, it is not a SSD, It's a spinny drive. Load times are exactly the same. At least there is no degradation to load times. I backed up my PS4 internal drive (it's extremely easy) and intended to install a 2 TB SSD, It is simply a laptop drive and SSD or HDD will work without modifications. Installing a SSD internally will indeed help with load times, no moving parts to wait for. but the cost of that approaches the cost of PS4 if you buy a quality drive. So I decided to go with Seagate's Game Drive, then I stumbled across the Special Edition!
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