Bandwidth
Er, yeah, that 200Gb/s figure is in no way the entire internal bandwidth of the system. It's basically the base speed per port.
As the linked-to article and this paper [PDF] and HPE's own bumf says, that's the link speed of the interconnect. You can have, eg, a 64-port switch with each port doing 200Gb/s per direction (four lanes of 50Gb/s).
NCAR also said the "HPE Slingshot bandwidth is 200 Gb/sec per port per direction."
C.