The top Mac Studio has six thunderbolt 5 ports, each of which is a PCIe 4.0 x4 link. Each is a 8GB/sec link in each direction, which is a lot. Going from x16 down to x4 has less than a 10% hit on games: https://www.reddit.com/r/buildapc/comments/sbegpb/gpu_in_pci...
PCIe 4.0 x4 is going to be a huge bottleneck, even recent SSDs have more throughput (they use PCIe 5.0) never mind GPUs.
Gaming isn't what people are using Mac Studios for. Thunderbolt also isn't a substitute for OCuLink.
Your example uses GTX1080, which is a very old GPU. Current flagship consumer GPU will take a harder hit on low bandwidth PCIE.