I'm not sure if tar is a good format for backups, due to its extremely sequential nature (e.g. you can't get a list of the files in an archive without scanning the whole archive...)
Zstandard at a high compression level gives a good tradeoff of decompression speed vs underlying physical throughput, be it network or spindle.
Even so, yes, the sequential nature of tar is not great for this reason.
Squashfs files, which can be used on Linux and Mac (using fuse for OS X), are a very good alternative for archIves, though without some of the features described in the linked article.
if it already resides locally on a seekable media , there's litle drawback
Think of it like a linked list.
*: As opposed to a few large files.