I tried after seeing this benchmark [0] and thinking "that must be wrong". I got the same results.
Benchmarking on a 1GB, 1vCPU cloud server (to get an idea of what it would handle), with minimal VCL and one 15kb file in Varnish's in-memory cache it used over half the CPU (with hitch, unsurprisingly, using the other half for SSL termination).
[0] https://twitter.com/BlackIkeEagle/status/1274977171400847361