Almost all CPUs have AES native instructions so you'll be able to produce pseudorandom junk really fast. Even my old system will produce it at about 3Gb/s. Much faster than urandom can go.
That's very cool. Sadly running that exact command gets an incomplete file and error "error writing output file". It suggests adding iflag=fullblock (to dd). Running that makes a file of the correct size. But still gives "error writing output file". I suppose that occurs because dd breaks the pipe.