Yes, Xorg is now legacy, outdated, insecure, and does too much. But what wayland did was to replaced one functionality of Xorg, without offering alternatives to other functionalities. Which is good, I guess, it has a clear and focused responsibility.
But now compositors are responsible for other functionalities and they seem to be doing things in their own way. Which is also good, I guess, they explore the design space and then they can gravitate to a standardized way of doing things later.
But it's more than a decade now, many things seem to be stuck in the "exploring design space" phase, so it's understandable if some users are impatient. Yes, it's free software without warranties, it doesn't mean immunity from criticism though.
I also get performance regressions in wine games on xwayland, didn't try wine-wayland yet though. But many games I play will never move from X.