Even though mobile phones have gotten fast, this is an severe issue with React Native apps. And Facebook is pouring in a lot of engineering to tackle it. But the progress is incremental at the best. As a result some code gets rewritten in C++ because of this issue (see e.g. Trust Wallet). Even though I love Python as a programming language I would not recommend it for consumer grade mobile application development and I feel it is unlikely to get there ever unless some breakthrough happens in runtime development.