Assuming 3 GB/s SSD, 10 SSDs, and a compression as you suggested of 10x, a query for finding a string in the text would take 10000 / 3 / 10 / 10 = 33 seconds.

With an index, you can easily get it 100x faster, and that factor gets larger as your data grows.

In general it's just that O(log(n)) wins over O(n) when n gets large.

I didn't take your Bloom filter idea into consideration as it is not immediately obvious how a Bloom filter can support all filter operations that an index can. Also, the index gives you the exact position of the match, when the bloom filter only gives you existence, thus potentially still resulting in a large read amplication factor of a scan in the segment vs direct random access.