Calin said:
the game assets are still the same regardless if its a debug or release version
Not necessarily true. The source assets are likely the same, but games (at least at the AAA level) tend not to consume raw .objs and .tifs from disk - they do a whole bunch of postprocessing on them before the game even launches. This presents an opportunity to have debug assets stored in a different way to improve designer iteration times. Theoretically one might attach more information to the debug version as well, eg. filename identifiers that show up in the debugger in debug builds, but not release builds, to make the debugging experience better.
Calin said:
Why would a debug version take more time (a lot more) to load than a release version?
One reason might be (for example) that your post-processed debug assets are stored as loose files rather than being packaged into a compressed archive for better load times and better disk utilization. Maybe you aren't even storing post-processed debug assets and are doing the post-processing at the moment the game loads them - slow!
It's true that the asset configuration may be decoupled from executable configuration so one could theoretically use a debug config with shipping assets, but the path of least resistance may be using debug builds for both, depending on your project.