We've got some additional documentation on the differences and limitations between Gcsfuse and a proper POSIX filesystem: https://cloud.google.com/storage/docs/gcs-fuse#expandable-1
Gcsfuse is a great way to mount Cloud Storage buckets and view them like they're in a filesystem. It scales quite well for all sorts of uses. However, Cloud Storage itself is a flat namespace with no built-in directory support. Listing the few top level directories of a bucket with 100MM files more or less requires scanning over your entire list of objects, which means it's not going to be very fast. Listing objects in a leaf directory will be much faster, though.