This really isn't accurate at all. I'm in very strong aerobic shape and 95% of my max heart rate is not at all sustainable for more than a few minutes, and it is also a deeply anaerobic activity. VO2Max != max heart rate. Your heartrate @ VO2 max is typically much lower than your max heartrate. Max genuinely means max in this case, as in, literally the highest you can get your heartrate up. By definition, you are way above your VO2 max in that situation and it is not going to be sustainable for long at all.

Something like 90% approaches what you're talking about, maybe being sustainable for 15 minutes or so, but that 5% makes an enormous difference.