This is using swc under the hood which as a transpiler is usually slower than esbuild. What makes Turbopack faster is caching not the transpiler. Rails (or vite or whoever) can implement similar caching speeding things up as well.
Why I wouldn’t choose, esbuild is because they don’t support the automatic React runtime and don’t seem to have plans to (or at least last time I checked.) Swc does… So as long as you’re okay with that limitation I imagine you’re probably fine.
You could also potentially use Bazel for remote caching in your rails app, though I haven’t used it myself so I don’t know how well it would work.