Nothing is isolated so it's probably slower. The tradeoff is that the tests are really simple for how much they cover, and they're entirely separate from the implementation details so refactoring/changing technologies becomes really easy. It's an old project and we've incrementally migrated from jQuery to Backbone to React to Stimulus with the same tests. Conceivably we could change the app to a SPA and keep the tests.
I have no way to really know if it's better than anything else (though I am interested in that question!), but I think it has worked out pretty well for us. One metric might be that our main app has been around for 10+ years, we're still delivering features daily, and nobody is complaining about a rewrite.