For what it's worth, I think the list of instruments there is partly wrong - it looks like
every even file from 2274-2408 is an instrument, and
every odd file from 2273-2407 is a sequence.
That said, this bears much more of a resemblance in terms of functionality to .MOD tracking than MIDI composing, for those of you who have been around since the bad old days of dialup and the Amiga.

Things that seem to be the case with the sequences: (note: early/late references are to 2273.out)
FE 00 - Command terminator. Not to be confused with:
FE xx 00 - Unknown, but probably relates to a channel number. How many audio channels does the PSX support in hardware - does 24 sound right (the xx I'm seeing here hasn't exceeded 16 [=22 decimal])?
FD 02 - Unknown. Appears frequently early on as the two bytes immediately preceding FE 00; appears mid-"string" later on.
FC 02 - Similar to FD 02. Also similarly unknown.
8x, 9x - Unknown; seems to be single-byte commands. I've seen 88, 89, 93, 94, 98, and 99.
Not all 8x commands are single-byte. Specifically, 85 and 8C seem to be two bytes.
More updates as I wade through the sequences.