What determines the actual speed is any bottleneck to a system's performance possibility.
A fast bus speed but an inefficient north or south (chipset) can have an impact on overall speed. In fact, drop a slow 5400 rpm HDD in an otherwise fast system will slow all things down - replace it with a fast SSD or NVME it will improve things considerably. Point being there are numerous factors to consider when it comes to actual speeds and overall system performance - cpu wait, # of lanes, parallel vs serial data path, chipset specs, cpu specs, drive speeds, bus speeds... on and on.
Another simple example might be putting a usb 3.1 drive in a 1.0 slot... the bottleneck is the slot speed in this case.